Bitcoin Market Enters New Phase: MVRV Becomes Positive As Panic Sales Fade Out

Bitcoin appears to be entering a new bullish phase after soaring to the $97,000 level this week. As weeks of volatility and continued sales pressures have increased, the market began to change its tone. The Bulls are in the momentum, with the wider crypto space showing signs of reconfidence as the price action heats up.

Top analyst Axel Adler shared key insights that the return of Yoy True MVRV (market value to realized value) marks an important milestone in the cycle. The indicator shows that on average, coins acquired in the past year are now in profitable units, with current market prices exceeding the average purchase price.

This shift reduces pressure on panic sellers, many of whom were previously underwater and want to quit. Now, with the increase in profits realization, the urgency of sales is less, which in turn supports price stability and builds momentum. As a result, investor confidence is rising and a healthier market structure is forming.

If this trend continues, Bitcoin may be ongoing towards a new all-time high, suggesting that the next area of ​​the bull market may just have begun.

Bitcoin Holding Companies as the market moves to recovery phase

Bitcoin is currently facing a critical challenge as it struggles to recoup the psychologically important $100,000 level. Over the past two weeks, the Bulls have successfully pushed prices higher in key resistance zones such as $90,000 and $96,000, which sends the intensity of the start. However, the growing macroeconomic uncertainty, including ongoing concerns about a global recession and ongoing conflict between the United States and China, is easing, with two factors that have had a serious impact on investor sentiment in all markets.

Despite these concerns, Bitcoin’s chain indicators are flashing signs of structural shifts in market behavior. According to Axel Adler, the year-on-year real MVRV (market value of realized value) returns to positive territory. This means that, on average, the current market price is higher than the average price of coins obtained in the past year. As a result, most holders are making profits.

This change marks a crucial psychological turning point. The pressure from panic sellers is easing as fewer participants are motivated to fall into losses. Instead, we see rising holder confidence and lower seller activity. Adler notes that this transition often coincides with the beginning of the recovery phase and paves the way for more sustainable growth.

If this trend continues, speculative premiums will gradually be established, laying the foundation for long-term gatherings. Essentially, the basis for the next big move seems to be forming, and according to Adler, the most interesting part of the cycle may have just begun.

Technical details: Price is close to $97K

Bitcoin traded at $96,800 after briefly pushing the level above $97,000 earlier than the meeting. Although the Bulls have been in control over the past week, they are now showing signs of exhaustion as demand appears to stagnate around current prices. Still, prices are rising and momentum is still growing throughout the wider market as traders expect potential breakthroughs.

To maintain the rally, BTC must remain above the $95,000 level, which is now the main short-term support. The stable base here can provide the necessary fuel for continuing to push the $100,000 psychological milestone, which will confirm fresh bullish legs in this cycle.

However, short-term sentiment may quickly shift if Bitcoin fails to hold $95K. Rest below this level may open a deeper door to backtracking, with the next major support located in the $88K – $90K area. Given the uncertainty of the macroeconomics and the high level of mixed signals in global markets, traders may be cautious until the weekend.

For now, the focus remains on whether the Bulls can build enough momentum to break through $97,000 again and move convincingly towards unknown territory.

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