Currently, Bitcoin is around 7% above the short-term holder’s cost basis of 98,000 USD, indicating limited excitement and higher risk. A new market variable may influence investor actions, suggesting subtle dynamics at play that differ from traditional market peaks.
The MVRV Z-Score is pressing against a critical resistance, traditionally signaling market tops. The absence of extreme greed in the Fear and Greed Index suggests the market might still have growth potential, but uncertainty looms due to macroeconomic factors.
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