MVRV never dropped below 1 this cycle.
That matters.
$BTC built a major base without the usual capitulation signal. The old bottom playbook failed — no panic flush, no classic despair phase.
This tells us something about market structure: holders stayed strong, weak hands got shaken out earlier, and institutional demand kept a floor under price. When MVRV holds above 1, it means average cost basis never went underwater. That's unusual strength.
The bottom is likely in. We're in accumulation, not distribution. Patient holding wins here — no need to chase perfect entries. Time in beats timing when the macro setup supports a new leg up.
Stay disciplined. Let the cycle work.
That matters.
$BTC built a major base without the usual capitulation signal. The old bottom playbook failed — no panic flush, no classic despair phase.
This tells us something about market structure: holders stayed strong, weak hands got shaken out earlier, and institutional demand kept a floor under price. When MVRV holds above 1, it means average cost basis never went underwater. That's unusual strength.
The bottom is likely in. We're in accumulation, not distribution. Patient holding wins here — no need to chase perfect entries. Time in beats timing when the macro setup supports a new leg up.
Stay disciplined. Let the cycle work.
