The current market is exhibiting signs of cooling, as participants await the next upward movement. While most on-chain indicators remain at relatively low levels, they are poised for a potential rebound. Key metrics such as the Market Value to Realized Value (MVRV) stands at 2.358, the adjusted Spent Output Profit Ratio (aSOPR) is at 1.02, and the Net Unrealized Profit/Loss (NUPL) is recorded at 0.58.
Despite the recent market correction, it is noteworthy that short-term holders (STH) are consistently entering the market. This influx of new investors could signal a growing confidence in the potential for future price increases, suggesting that the market may be on the verge of a significant turnaround.
Written by joohyun ryu