• Key Bitcoin onchain signal may mark BTC’s next demand revival Bitcoin remains pinned below $65,000 as random bouts of intense selling pressure persist, but one onchain indicator has stabilized, providing insight into when spot market demand may return. • Cointelegraph in your social feed Onchain data tracking Bitcoin’s (BTC) investor profitability has dropped back toward the long-term average, indicating a possible valuation reset. • At the same time, crypto exchange order flow shows an easing of aggressive selling pressure, with the spot cumulative volume delta (CVD) rising marginally even as the spot trading volume dropped to $6 billion from $7.6 billion. • These changes are shaping expectations around when stronger spot demand may return for BTC and whether this will lead to a trend reversal. • Bitcoin valuation metric resets toward the historical mean Glassnode analyst Chris Beamishsaidthat the Bitcoin market value to realized value (MVRV) ratio has normalized after the prior +1 standard deviation extremes were fully reset. • The MVRV compares the market capitalization to the realized capitalization to gauge investor profitability.

Article Summaries:

  • Bitcoin’s on‑chain metrics suggest a potential shift toward renewed demand. The market‑value‑to‑realized‑value (MVRV) ratio has moved back toward its long‑term mean after a period of extreme overvaluation, indicating a possible valuation reset. Realized capitalization fell to $1.09 trillion from $1.12 trillion, a 2.3 % decline, while the largest coin cohort (3‑6 month old) now represents 25.9 % of supply. Exchange‑flow data shows a modest easing of aggressive selling, with the spot cumulative volume delta improving from -$177.1 M to -$161.5 M, though spot volume has dropped to $6 bn. These signals point to a neutral‑defensive stance that may precede a trend reversal if buying pressure recovers.

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