Analyst: Indicators Show Bitcoin Will Face Significant Selling Pressure from Short-Term Holders at $118,000
On May 15, CryptoQuant analyst Axel posted on social media that the current Market Value to Realized Value (MVRV) ratio for Bitcoin short-term holders (STH) is 1.09. The first significant selling pressure is expected to occur around 1.25 (target price ≈ $118,000), with stronger selling pressure possibly appearing at 1.35 (≈ $128,000). Based on the current average daily growth rate, the STH MVRV could reach 1.25 by early June and 1.35 by the end of the month.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: Top 100% win-rate whale increases ETH long positions to $6.62 million
ADP estimates a decrease of 11,250 private sector jobs in October
The US Dollar Index (DXY) dropped 15 points in the short term, now reported at 99.37.
