This article discusses the recent price retracement of Bitcoin and examines data and on-chain metrics to assess its market position and potential future movements. It explains that while the market has experienced a 10% retracement, historical trends suggest that such corrections are normal in a bull cycle. The MVRV Z-score, which measures market value to realized value, indicates that Bitcoin still has upside potential and is not in an overheated state. The SOPR metric suggests that fewer investors are selling their holdings, reinforcing market stability. The VDD metric indicates a decline in selling pressure, suggesting that Bitcoin is stabilizing at high levels. The article concludes that on-chain metrics and historical data suggest the bull cycle is not over yet, and investors should carefully analyze the data and consider long-term trends before making investment decisions.



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