The cryptocurrency market is showing signs of stagnation as investors await the next bull run. Although on-chain metrics remain low, there is potential for recovery. The current MVRV is 2.358, aSOPR is at 1.02, and NUPL stands at 0.58.

Despite recently undergoing a correction, it is noteworthy that short-term investors continue to engage in the market. This increase may indicate confidence in the potential for future price increases, suggesting that the market may be on the verge of a significant turning point.