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Bitcoin is currently navigating through one of the most robust bull markets in its history, as explained by an insightful analysis from Glassnode lead analyst James Check. Despite recent bitcoin corrections, the digital asset’s resilience is starkly evident, dwarfing past cycles and reaffirming its position as a formidable asset.
Rise in Bitcoin’s MVRV Ratio
The year’s meteoric rise, witnessing a 52% surge year-to-date, has propelled Bitcoin’s MVRV (Market Value to Realized Value) ratio to remarkable heights. Notably, at $70,800, this metric soared one standard deviation above its mean, historically signaling a point where investors are incentivized to realize profits. This, in…
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