The post Examining why Bitcoin’s bull run may have more room – MVRV ratio reveals… appeared on BitcoinEthereumNews.com.

MVRV at 2.25 suggested that Bitcoin remains far from bull market peak conditions. Exchange outflows rose while short-term holders stay inactive, limiting immediate selling pressure. Bitcoin’s [BTC] continued to hover above $104K, yet several on-chain signals suggest the market hasn’t hit euphoric extremes. In fact, a combination of undervaluation metrics, negative sentiment, and quiet short-term activity hints that the bull run may still be intact. MVRV says: This isn’t the top—Yet At press time, the MVRV ratio, at 2.25, remained well below prior bull market peaks despite the asset trading above $104K.  Historically, higher MVRV values have aligned with tops, but the ongoing long-term decline in this metric implies that Bitcoin might still have room to run.  Therefore, current price action reflects sustainable momentum rather than extreme speculative behavior often seen in euphoric conditions. Source: IntoTheBlock/X Why is sentiment negative despite Bitcoin’s rally above $100K? Interestingly, Bitcoin’s Weighted Sentiment dropped to -0.723, revealing widespread skepticism among traders and investors. Typically, negative sentiment during an uptrend suggests disbelief in the rally’s sustainability.  However, contrarian analysis often views this as a bullish signal, implying that the market still holds potential for upside. As crowd doubt persists, fewer participants are likely to take profits prematurely.  Consequently, sentiment-driven resistance remains weak, supporting the possibility of continued price expansion in the near term. Source: Santiment Could BTC NVT and Puell Multiple be hinting at undervaluation? Both the NVT Golden Cross and Puell Multiple declined by over 23% and 25%, respectively.  Together, these suggest that Bitcoin’s price is still catching up with on-chain fundamentals. Miners aren’t showing stress, and network activity isn’t in overdrive. In other words—no froth. This points to value-driven growth rather than a speculative surge. Source: CryptoQuant Are BTC investors shifting towards long-term holding? On-chain exchange metrics show a 10.72% increase in outflows…

---

Filed under: News - @ June 18, 2025 10:23 pm