Let's check 3 major BTC On-chain data again 🤔
As I previously said, the MVRV Z Score has suffered the correction. Well, it had overheated than expected. I thought it would be collapsing after reaching 2.5. But, it had surpassed 3.0. I couldn't imagine it was overheated 🤯
Anyways, when it comes to the cycle investment strategy, it looks like a cooldown. What a shame. I think the BTC(Bitcoin) will be bullish again and it would be likely ended the end of this year. If my prediction is wrong, it would be lasting more. But, never forget there're no eternal bullish markets.
Fortunately, the NUPL is around 50%. This BTC On-chain data is also accurate like the MVRV Z Score.
As I formerly said, the 1y-2y BTC holders are the most smartest investors during the last 15 years. It seems that they know the approximate cycle tops and bottoms. So, I like their investment strategy.
The current ratio of the 1y-2y BTC holders is around 10%. I think it will be possible to increase again, then, it will collapse less than 5%. If the ratio goes down less than 5% this cycle, this cycle will be likely finished. Anyways, the current market looks like a consolidation market.
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