According to CryptoQuant platform CEO Ki Young Ju, Bitcoin (BTC) is currently a store of value (SoV) for over $1.03 trillion across various exchanges and wallets. The calculation takes into account both on-chain and off-chain data, and the metric has grown by 85% over the past year. The methodology includes factors such as exchange reserves, volume weighted average price (VWAP), and USD-denominated OTC and exchange deposits/withdrawals. The SoV metric reached its highest point during the 2021 bullish rally, surpassing previous highs in 2017. Additionally, Bitcoin's network metrics, such as hashrate and mining difficulty, have reached all-time highs, indicating optimism among miners. However, despite these positive indicators, Bitcoin's price has recently experienced a decline.



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