Analysts: Short-term holders' MVRV shows that Bitcoin still has pump potential.

CryptoQuant analysts stated that the MVRV ratio for short-term holders (STH) is currently only 1.15, far below the usual threshold of 1.35 that triggers large-scale profit-taking. On July 11, the realized price for STH first broke the $100,000 mark and is now over $102,000. Analysis shows that before reaching the key MVRV threshold, Bitcoin price still has about 20%-25% upside potential, providing investors with a bullish window. The MVRV indicator measures unrealized profit levels by comparing market capitalization with realized price.