Summary
- The MVRV indicator for short-term Bitcoin (BTC) holders has not yet reached its threshold, indicating that there is still upside potential for the price.
- Currently, the MVRV is around 1.15, which means it has not reached the previous profit-taking range of 1.35.
- It is analyzed that Bitcoin could rise an additional 20–25% before entering the next profit-taking range.
The MVRV indicator, which shows the unrealized profits of short-term Bitcoin (BTC) holders, has not yet reached its threshold, indicating there is still room for price appreciation, according to analysis.
On the 17th (local time), CryptoQuant author Darkfost stated, "According to past cases, whenever the short-term holder MVRV reaches about 1.35 (unrealized profit of 35%), large-scale profit-taking by investors has occurred, followed by a price correction. However, the current MVRV is around 1.15, and it has not yet reached that threshold."
The author further analyzed, "This is attributed to the realized price for short-term holders (orange dotted line) surpassing $100,000 for the first time in Bitcoin's history as of July 11. Considering this, Bitcoin may have an additional upside potential of about 20–25% before entering the next profit-taking range."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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