On June 17, analyst Axel Adler Jr stated that the "MVRV Z-score is currently at a moderate positive level (+0.6), indicating that the market has some buying power, but no overheating signs have yet appeared. The profit-taking ratio for short-term holders remains high at 83%, meaning that most short-term investors are currently in profit. While this may trigger some profit-taking, as long as this situation has not occurred, it remains a positive signal. The current price is trapped in the range of $110,000 to $104,000, and short-term holders still maintain confidence in the market's rise.
The market is still in a bullish trend, with overall valuations in a moderately overbought state, and short-term holders are showing strong interest. The high proportion of profits among short-term holders suggests that some investors may take profits when the price approaches $110,000, potentially triggering a short-term pullback.
Indicator Explanation: MVRV Z-score value of 0 indicates neutral valuation, ±1 represents extreme levels.
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The BTC market is in a moderate rise range. Analysts: Short-term holders have an 83% profit rate and remain bullish.
On June 17, analyst Axel Adler Jr stated that the "MVRV Z-score is currently at a moderate positive level (+0.6), indicating that the market has some buying power, but no overheating signs have yet appeared. The profit-taking ratio for short-term holders remains high at 83%, meaning that most short-term investors are currently in profit. While this may trigger some profit-taking, as long as this situation has not occurred, it remains a positive signal. The current price is trapped in the range of $110,000 to $104,000, and short-term holders still maintain confidence in the market's rise.
The market is still in a bullish trend, with overall valuations in a moderately overbought state, and short-term holders are showing strong interest. The high proportion of profits among short-term holders suggests that some investors may take profits when the price approaches $110,000, potentially triggering a short-term pullback.
Indicator Explanation: MVRV Z-score value of 0 indicates neutral valuation, ±1 represents extreme levels.