CryptoQuant says Bitcoin nears MVRV, Realized Price test for market structure shift
Bitcoin derivatives pause. Open interest barely moves. Volume drops.
Headline: Bitcoin OI +1.5% to $55B, volume -21%. CryptoQuant flags short‑term holder test.
- Open interest rose 1.50% to $55B. More futures closed than opened in 24h. Volume fell 21% to $30B. Coinalyze
- Coinbase Premium Index reads -0.018%. US spot demand muted. Coinglass
The market waits on Bitcoin short‑term holder signals.
CryptoQuant’s Moreno says BTC is nearing a test of the Short‑Term Holder MVRV and the STH Realized Price. CryptoQuant post
MVRV has printed lower highs since early 2024, capping every bounce despite price records. CryptoQuant post
“A sustained reclaim of the Realized Price, paired with the MVRV stabilizing and trending above 1.0, would signal a structural regime change.” CryptoQuant post
Below the STH Realized Price, recent buyers sit at a loss and sell into rallies. Above it, selling pressure eases. CryptoQuant post
