BTC Surges to All-Time High of $118K

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Bitcoin’s rally is showing no signs of overheating, as MVRV, SOPR, and MPI data indicate sustainable growth.

Bitcoin (BTC) has surged to a fresh all-time high above $ 118,000, after gaining more than 6% over the past day.

Despite this, on-chain data suggests the current rally remains far from overheated and instead hints at further growth potential.

Room for Further Growth
During the previous peaks in March and December 2024, the MVRV ratio climbed above 2.7 as speculation intensified. The current high, on the other hand, comes with a more moderate reading of 2.2 and reflects a steadier market environment.

According to CryptoQuant, UTXO data show that short-term holders (under one month) now make up just 15% of the market. This is down from 30% during previous highs, which indicates limited new capital inflows and a cautious investor profile.

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