On-chain data reveals that the 30-day unrealized gains for Bitcoin investors have returned to a historical 'healthy' range. This suggests a bullish outlook for BTC, potentially paving the way for a surge towards $100,000.
The Market Value to Realized Value (MVRV) Ratio is a key indicator, comparing the market cap of BTC to its realized cap, showing the profit-loss breakdown for traders. A recent analysis by Santiment highlights that the Bitcoin MVRV Ratio for 30-day traders has decreased, now back within a 'healthy' zone from its previous 'danger' region.
Currently, the 30-day MVRV Ratio stands at 4.2%, within the +5% to -5% range, which historically correlates with bullish market conditions. Additionally, the longer-term 365-day MVRV Ratio remains high but less pressing due to the lower selling tendency of long-term holders.
Market trends indicate that BTC, now at approximately $94,900, might experience a rally or at least avoid further declines. Despite a slight 1% decrease over the last week, optimism persists based on on-chain metrics and trader behavior analysis.
