Bitcoin News

Story: Bitcoin Bull Run May Not Be Over as Key Metrics Show More Room to Climb

By Maheen Hernandez

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MVRV Ratio Suggests Bitcoin Has Not Peaked. At the time of writing, Bitcoin’s Market Value to Realized Value (MVRV) ratio sits at 2.

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Negative Sentiment Could Be Bullish. Interestingly, despite Bitcoin’s strong performance, market sentiment remains pessimistic.

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NVT and Puell Multiple Show Undervaluation. Additional indicators support the view that Bitcoin is still undervalued relative to its network…

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Exchange Outflows Signal Long-Term Holding. On-chain data shows that exchange outflows have increased by 10.

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Short-Term Holders Remain Quiet. Another unusual but telling trend is the inactivity of short-term holders.

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Liquidation Map Highlights Near-Term Risk. While fundamentals are strong, leverage metrics introduce a layer of short-term risk.

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A Market Driven by Fundamentals, Not FOMO. What stands out about Bitcoin’s current price behavior is the lack of traditional froth.

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Bitcoin continues to hold strong above the $104,000 mark, but several key on-chain indicators suggest this could be far from the peak of the current bull run.

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From undervaluation metrics like the MVRV ratio to reduced selling pressure from short-term holders, Bitcoin’s fundamentals point toward a more sustainable upward trend, rather…

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At the time of writing, Bitcoin’s Market Value to Realized Value (MVRV) ratio sits at 2.25—well below the levels historically associated with major bull market tops.

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This lower reading indicates that while the asset has rallied impressively, it has likely not yet entered the euphoric phase typical of bull cycle tops. The implication?

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Interestingly, despite Bitcoin’s strong performance, market sentiment remains pessimistic. The Weighted Sentiment score has dropped to -0.

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Normally, rising prices would be expected to drive optimism. But in this case, the skepticism may actually be bullish.

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Both metrics suggest that Bitcoin’s price has not yet caught up with its underlying network activity.

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On-chain data shows that exchange outflows have increased by 10.72%, while inflows have declined by 10.27%.

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