MVRV-индекс указывает на потенциальное восстановление биткоина в диапазоне $99,000-$101,000 Translation: MVRV Index Signals Potential Bitcoin Recovery in $99,000-$101,000 Range

The fundamental metrics for Bitcoin remain robust despite the prevailing panic. A crucial signal comes from the MVRV ratio, which is currently at its lowest level since April (1.8), as noted by contributors from CryptoQuant at XWIN Research.

«This suggests that the market value is nearing the average entry price for investors, indicating a potential accumulation zone,» the analysts stated.

A decline in MVRV to the 1.8–2 range typically signifies a bottom has been reached or an early phase of recovery. Realized profits and losses are being balanced, hinting at the conclusion of profit-taking, they added at XWIN Research.

Researchers have identified a benchmark price range of $99,000–101,000.

They believe that the recent liquidations were primarily driven by long positions with «excessive» leverage. Furthermore, long-term holders continue to realize profits, while short-term holders are facing losses.

Exchange reserves continue to decline, indicating that coins are being moved to personal wallets for safekeeping rather than being sold—this kind of market behavior has historically coincided with stabilization phases.

The activity of stablecoins also reflects a «defensive position.» The supply of USDT remains high at $183 billion, while USDC holds steady at around $75 billion, supported by demand for institutional payments.

«Liquidity is currently on the sidelines, waiting for clarity from upcoming macroeconomic indicators in the U.S., such as employment and trade data. Overall, on-chain signals indicate a transitional market period rather than its collapse. Despite fear-induced selling and increased volatility, realized losses remain moderate, suggesting a rational reorientation rather than capitulation,» the analysts concluded.

At the time of writing, the leading cryptocurrency is trading around $101,700, having experienced a 3% drop over the past day.

It’s worth noting that Sigma Capital CEO Vineet Budki has suggested a potential 70% decline for Bitcoin.