Bitcoin ($BTC) ecosystem is currently standing at a neutral position. As per Axel Adler Jr., short-term holder (STH) sentiment presents a cooling market behavior, with STH Market Value to Realized Value (MVRV) indicator plunging to average levels over 5 years. As mentioned by the well-known crypto analyst in a recent social media post, this shift indicates a neutral and balanced state. Thus, traders are neither leaning massively toward $BTC accumulation nor even facing sheer drawdowns that highlight a consolidation period.
Balanced Bitcoin Market Amid No Leaning Toward Consolidation or Accumulation
Based on the market data, Bitcoin’s STH MVRV has touched the average of the levels seen during the past 5 years. This signifies a relatively balanced position of the spot market while the traders are not leaning toward either of the sides, including accumulation or consolidation. Particularly, the present STH Realized Price is nearly $105.7K, underscoring the average acquisition charges for short-term $BTC holders over past 155 days.
Calm Ahead of Upsurge?
According to Axel Adler Jr., the price of the leading cryptocurrency is hovering above the aforementioned figure of $105.7K. This implies that most of the recent $BTC buyers are presently in profit. Additionally, the minimum and maximum thresholds of Bitcoin ($BTC) are completely outside the present levels, indicating significant market stability. Keeping these indicators in view, the currently stabilized and neutral Bitcoin market might denote a calm period before a massive upturn in the near term.
