Analyst: Short-Term Holder MVRV Indicates Further Upside Potential for Bitcoin
According to a report by Jinse Finance, a CryptoQuant analyst stated that the MVRV ratio for short-term holders (STH) is currently only 1.15, which is significantly below the usual 1.35 threshold that triggers large-scale profit-taking. On July 11, the realized price for STH surpassed the $100,000 mark for the first time and has now exceeded $102,000. Analysis indicates that before reaching the critical MVRV threshold, Bitcoin still has approximately 20%-25% upside potential, offering investors a bullish window. The MVRV metric measures unrealized profit levels by comparing market value to realized price.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Barrick Gold (ABGC.US) applies for U.S. IPO, aiming to raise up to 6 billion dollars
American Barrick Gold has submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC).
Japanese stocks closed up 1.31%
“Big Short” Burry dumps Caterpillar (CAT.US) put options after their value quadrupled, cutting his short position by 75%
After Michael Burry's put options on Caterpillar nearly quadrupled, he reduced his short position in Caterpillar.
Crypto prices
More
