Analyst: Bitcoin indicators show that most holders are currently realizing profits without having to take losses to exit

ChainCatcher news, CryptoQuant analyst Axel posted on social media that the annualized real MVRV (Market Value/Realized Value Ratio) of BTC has returned to positive territory, indicating that the average cost price of all tokens purchased in the past year is now below the current market price. Panic selling pressure is easing------most holders are now in profit and do not need to sell at a loss. Holder confidence is continuously strengthening. This "critical point transition" coincides with the market recovery phase, marking the beginning of a more sustainable price growth cycle. This trend will continue until speculative premiums accumulate to a sufficiently high level, prompting holders to choose to take profits.