After reaching the level of $ 97,000 this week, Bitcoin seems to enter a new upward phase. After weeks of increased volatility and persistent sales pressure, the market begins to change its tone. The bulls are gaining momentum, and the wider cryptography space shows renewed signs of confidence while the action of the prices is warmed.
The superior analyst Axel Adler shared key information, revealing that the return of the VRE MVRV in annual sliding (market value of the value achieved) to the positive territory marks an important step in this cycle. This metric indicates that in average, the parts acquired in the past year now have a profit, the current market price located above the average purchase price.
This change reduces the pressure of panic sellers, many of which were previously underwater and sought to come out. Now, with profits made up, there is less emergency for sale, which supports price stability and takes momentum. Consequently, investors' confidence increases and a healthier market structure is formed.
If this trend continues, Bitcoin could be on the verge of a sustained movement towards new heights of all time, indicating that the next step in the bull market can just start.
Bitcoin is firm while the market goes to the recovery phase
Bitcoin is currently faced with a critical challenge because he has trouble recovering the level of $ 100,000 psychologically important. In the past two weeks, the bulls have managed to push the price above key resistance areas such as $ 90,000 and $ 96,000, reporting renewed force. However, the momentum is tempered by increasing macroeconomic uncertainty, including persistent fears of a global recession and a continuous conflict between the United States and China, two factors that strongly influence the feeling of investors in all markets.
Despite these concerns, Bitcoin chain metrics flash the signs of a structural change in market behavior. According to Axel AdlerThe real MVRV from one year to another (market value of the value achieved) returned to a positive territory. This means that in average, the current market price is now higher than the average price at which the parts have been acquired in the past year. As a result, most holders are in profit.
This change marks a crucial psychological turning point. The pressure of the penalty panic sellers because fewer participants are motivated to lock the losses. Instead, we see an increasing confidence in holders and a reduced sales activity. Adler notes that this transition often aligns at the start of a recovery phase and opens the way to more sustainable growth.
If this trend continues, the speculative premium will gradually accumulate, preparing the way for a longer term rally. Essentially, the foundation of the next major movement seems to form, and according to Adler, the most interesting part of this cycle may begin.
Technical details: the price is held nearly $ 97,000
Bitcoin is traded at $ 96,800 after briefly exceeded the level of $ 97,000 earlier in the session. While the bulls have maintained control throughout last week, they now show signs of exhaustion, because demand seems to block current prices. However, the price remains high and the momentum accumulates on the wider market while traders anticipate a potential escape.
To support the rally, BTC must keep above the $ 95,000 level, now acting as a short-term key support. A stable base here could provide the fuel necessary for a continuous thrust to the psychological milestone of $ 100,000, which would confirm a fresh optimistic step in this cycle.
However, if Bitcoin does not hold $ 95,000, the short -term feeling could change quickly. A break below this level can open the door to a deeper retrace, with the next major support in the area from $ 88,000 to $ 90,000. Given the high level of macroeconomic uncertainty and mixed signals on the world markets, traders should remain cautious before the weekend.
For the moment, the emphasis is on the question of whether the bulls can take enough momentum to rape again $ 97,000 and make a convincing movement towards an unexplored territory.
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