[Analysis] Bitcoin (BTC), On-Chain Indicators Rebound… "Panic Selling Eases, Signal of Bullish Phase Initiation"

Minseung Kang

Summary

It was analyzed that Bitcoin's True MVRV indicator has turned positive, indicating that holders have entered a profit phase.
The pressure to sell at a loss is decreasing, and the sentiment of holders is stabilizing, suggesting the possibility of a bullish phase initiation.
The rebound of MVRV can coincide with the beginning of a recovery phase, and a sustainable upward trend can be expected.

An on-chain analysis has emerged indicating that Bitcoin (BTC) has entered a bullish phase.

On the 2nd, Axel Adler Jr., a contributor to CryptoQuant, analyzed on X (formerly Twitter) that "Bitcoin's True Market Value to Realized Value (True MVRV) has turned positive again, and the average purchase price of coins bought over the past year has started to fall below the current market price."

He added, "The fact that MVRV has returned to the positive territory means that holders have entered a profit phase," and "the pressure to sell at a loss is decreasing, and the sentiment of holders is stabilizing."

The rebound of MVRV typically coincides with the beginning of a recovery phase, and a sustainable upward trend can continue until a certain level of speculative selling accumulates.

Adler stated, "The most interesting phase has just begun."

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