Bitcoin Market Update: Price Performance Weakening, Long Term Holder Spending, MVRV Ratio Resistance

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Description:
As Bitcoin prices correct off the $73k ATH, several onchain metrics signalled major profit taking is underway. We assess whether the market is now top heavy enough to establish a global cycle peak.

Timestamps
0:00 Introduction
1:28 A Big Announcement
3:45 Daily Price Performance Starts to Weaken
5:50 Value Days Destroyed Metric Peaks
7:38 Long Term Holder Spending
9:45 MVRV Ratio Reaches Key Resistance

About _checkonchain:
We believe Bitcoin is one of the most important assets of our time, providing investors with a reliable and secure store of value. However, one of the biggest challenges is that Bitcoin's volatility creates uncertainty, especially for those unfamiliar with the way the market trades and moves.

At _checkonchain, we help you navigate this volatility, by bringing together years of market analysis experience, and a unique perspective rooted in the study of Bitcoin’s blockchain data (onchain analysis). We provide traders and investors with expert guidance on current events, as well as frameworks for making data-driven decisions.
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Our mission? To provide unmatched Bitcoin education and insights, helping you look ahead and respond to market moves with confidence.


DISCLAIMER
Despite mankind's best efforts, none of us can predict the future, and events which have come before are in no way an indication of what may come next. All methods and concepts presented in this series shall be taken as educational, informational, and for entertainment purposes only. Nothing shall be interpreted or considered as any form of financial or investment advice of any kind. The viewer is solely responsible for their own decisions.