Bitcoin Price Surges: Bull Run Could Be Close to Peak, But Short-Term Caution Remains

Bitcoin’s price has experienced a significant shift in profitability over the past three weeks. Between April 8th and April 29th, the MVRV ratio climbed by 21.84%, moving from 1.74 to 2.12. This metric compares Bitcoin’s current market value against the average cost at which holders purchased their coins, indicating a surge in unrealized profits across the network. 3rd-party analysts believe this is driving more investor profit-taking as they move into stronger positions, which may lead to increased selling activity from short-term holders.