Bitcoin Trades Below Key On-Chain Levels Amid Market Recovery
- Bitcoin remains significantly below the True Market Mean, which is estimated at $77,200.
- Recent buyers face unrealized losses of approximately 10%, with a Short-Term Holder MVRV ratio improving to only 0.90.
- Realized Cap has decreased by 1.45% over the past three months, standing at $1.07 trillion.
- Bitcoin liquidity on Binance shows stronger buy-side demand as prices near $60,000.
Despite recent stabilization in the market, bitcoin continues to trade below crucial on-chain recovery benchmarks such as the True Market Mean and Short-Term Holder MVRV ratio of above one. This indicates ongoing pressure on recent buyers who are still experiencing unrealized losses.
The market’s current state reflects a need for further capital inflows and price recovery to transition towards a pre-bull phase, as evidenced by continued contraction in Realized Cap and low profitability metrics for recent investors. (Source)
