Summary
- It was reported that an analysis found expectations for an increase among short-term Bitcoin (BTC) holders have diminished.
- It was stated that the MVRV indicator of short-term Bitcoin holders is below the 155-day average, indicating that short-term bullish sentiment has weakened.
- According to media reports, there are also recent analyses suggesting that the bull market has ended.
An analysis suggests that expectations for price increases among short-term Bitcoin (BTC) holders have weakened.
On the 27th (local time), CryptoQuant contributor Axel Adler Jr. stated on X (formerly Twitter), "The Market Value to Realized Value (MVRV) of short-term Bitcoin holders has fallen below the 155-day average," adding, "This indicates that their expectations for an increase are weakening." He further mentioned, "There are already reports in the media over the past 24 hours that the bull market has ended."
As of 4:45 p.m., Bitcoin is trading at $110,681, up 0.43% from 24 hours ago in the Binance USDT market.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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