has been at the center of investor attention, driven by its recent all-time highs and significant shifts in its on-chain metrics.
Historically, such elevated MVRV ratios have correlated with periods of heightened market activity, often leading to either profit-taking or continued bullish momentum.The 365-day MVRV’s high level suggests that long-term holders are seeing substantial gains, a positive sign for market sentiment, and a potential trigger for increased selling pressure.addresses, representing 99.35% of all addresses, are currently in profit. Around the current price, 69.58% are in the money, while 0.
Profitable holders are less likely to sell at lower prices, while the 30.30% out-of-the-money addresses could create resistance as Bitcoin approaches levels where these holders break even, particularly near historical price zones. The recent rally has pushed Bitcoin into overbought territory, as evidenced by the Relative Strength Index at 84.88. This suggests a potential cooldown phase before any further upward movement, especially if profit-taking intensifies.