**Market Analysis: Long-Term Holder Mourad Ratio Indicates Stability**

**Key Insights:**

**I - Long-Term Holder Mourad Ratio Stability:**

Historically, the Long-Term Holder (LTH) Mourad Ratio has been a reliable indicator for market trends. When this ratio remains stable, it suggests that the market is not yet ready for a bull run. Currently, the consistency in the LTH Mourad Ratio indicates that a bull phase has not commenced.

**II - Understanding the Mourad Ratio:**

The Mourad Ratio is calculated by dividing the Long-Term Holder Mourad Current Transaction Value (LTH MCTV) by the current Bitcoin price. This ratio provides insights into the average value of UTXOs aged more than six months, reflecting recent accumulation trends and market sentiment among long-term holders.

This analysis underscores the importance of strategic patience. While investor anticipation is high, the current stability of the Mourad Ratio suggests that more favorable conditions for a bull market onset have yet to materialize.