Crazzyblockk2023-09-14

BTC: Quick mid-term Price Cycle Update

1) According to the MVRV Ratio, there is a strong potential for price growth in the long term. We are Still above level 1 of the MVRV Ratio, and based on the Holders' Cost basis, Realized Cap< Market cap. 2) Despite the bullish big picture in the long term, the situation of short-term holders seems not interesting. Bitcoin Short-term holders always play a fundamental role in providing the required liquidity for large price movements. When they are at a heavy disadvantage due to their sensitive nature to bitcoin price actions, The result will be a decrease in their confidence and hope in the market trend. 3) So what's next? If we look at the average realized price of these holders or the amount of money they have paid for each bitcoin, the price levels of 27.5k-29k is the break-even area of these holders' pockets. 4) At the End: The more time we spend below these price levels, the more incentive there will be to exit liquidity from the market, and the basis condition for the return of the upward trend of Bitcoin depends on the price jump above the short-term realized prices.