Bitcoin recently crossed the $90,000 mark, prompting long-term holders to take profits. This trend, observed by analysts, could stabilize the market while paving the way for further increases, supported by continued demand and the absorption of sales by Bitcoin ETFs.
MVRV Analysis and Bitcoin Danger Zones
A few days ago, Bitcoin reached $90,000, setting a new important record for the crypto. According to the recent analysis, we have reached a first safe zone for long-term holders. Furthermore, the MVRV (Market Value to Realized Value) indicator which is used to assess whether an asset is overvalued or undervalued, shows that the profits made by long-term holders of BTC are not yet at extreme levels , which suggests that selling pressure is not yet at its peak.
Therefore, profit taking by long-term holders at $90,000 is not seen as a threat to the market. In fact, it could even help stabilize the market by avoiding sudden sell-offs. Additionally, Bitcoin ETFs play a crucial role in absorbing selling pressure, which helps maintain price stability.
Future prospects
Analysts remain optimistic about the future of Bitcoin. Some predict that BTC could reach $100,000 by the end of the year, supported by continued demand and growing adoption. However, it is essential to monitor indicators like MVRV to assess potential risks and opportunities in the market.
In sum, profit-taking by long-term holders at $90,000 could stabilize the Bitcoin market. With ETF sales absorbing and continued demand, BTC is well positioned for future upside, while maintaining market balance.
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