Bitcoin continues to make new highs and most investors are now in profit. Bull market skepticism is giving way to optimism, and several on-chain metrics point to further growth.

One key metric is the MVRV ratio, which shows that the market may be at a peak when the value is greater than 3.7. However, in this cycle, perhaps you shouldn't expect such high values.

Analysis shows that in past cycles, even when MVRV reached 3.7, the price of Bitcoin continued to rise for several months. Hence, a gradual selling strategy based on MVRV growth can be effective.

It is important to consider not only on-chain metrics, but also other factors, such as investor sentiment and macroeconomic trends, to create a balanced investment strategy.