The market is currently showing signs of cooling down, with participants waiting for the next leg up. Although most on-chain indicators remain at relatively low levels, they are poised for a potential recovery. Key metrics such as Market Value to Realized Value (MVRV) are at 2,358, adjusted Spent Output Profit Ratio (aSOPR) is at 1.02, and Net Unrealized Profit/Loss (NUPL) is recorded at 0.58.

The recent market correction has not deterred short-term holders (STH) from continuing to enter the market. This influx of new investors could signal growing confidence in the potential for future price increases, suggesting that the market may be on the verge of a significant recovery.