The price of Bitcoin is experiencing a slight correction, just before reaching the $100K mark. Many on-chain indicators suggest that the market is entering a phase of euphoria. Indicators like NUPL and the percentage of profitable supply support this notion. The MVRV Z-Score is currently at 3.21, reinforcing this sentiment. However, this is just the beginning; if the MVRV Z-Score reaches 3.3, it will signal a more pronounced phase of euphoria. In the previous bull market, this indicator exceeded 6. Could the same happen in the current market? Who knows!