Analyst: Bitcoin Indicator Shows Most Holders Are Now Profitable Without Needing to Exit at a Loss

CryptoQuant analyst Axel stated on social media that the annualized real MVRV (Market Value to Realized Value ratio) of BTC has returned to the positive range, indicating that the average cost price of all tokens purchased in the past year is now below the current market price.

The pressure from panic selling is diminishing—most holders are now realizing profits and do not need to exit at a loss. Confidence among holders is continuously strengthening. This "critical point transition" coincides with the market recovery phase, marking the beginning of a more sustainable price growth cycle. This trend will continue until speculative premiums accumulate to a sufficiently high level, prompting holders to choose to take profits.