Bitcoin 15% Below True Average Market Price of $77,200
Bitcoin is trading 15% below its true average market price of $77,200, according to Glassnode on-chain metrics. Short-term holders are still underwater, with the MVRV ratio at 0.9, and realized cap has declined 1.45% over 90 days, indicating a continued bearish trend.
BTCUSD
Bitcoin’s current price sits 15% below its realized average market price of $77,200, according to Glassnode data. On-chain metrics point to a persistent bearish environment.
- Short-term holders (STH) remain at a loss: their average purchase price is $72,600, but the recent rally to $65,000 was insufficient to cover losses. The STH MVRV ratio improved from 0.81 to 0.90 but remains below the critical 1.0 breakeven level.
- Bitcoin’s realized capitalization has contracted by 1.45% over the past 90 days, now at $1.07 trillion. This confirms net capital outflows from the network.
For a bullish phase to emerge, the realized cap would need to resume growth and the price would need to firmly reclaim the $77,200 level.
Source: ForkLog