Bitcoin price pullback to $91K possible, but onchain data highlights ‘healthy’ market fundamentals

Quick Summary:

Since the last halving in 2024, the market has shifted from the early 2024 euphoric phase to a "mature bull trend" based on onchain growth, rather than speculative frenzy. Bitcoin fundamentals triumph over fear and speculationBitcoin researcher Axel Adler Jr.pointed out that the year-on-year (YoY) realized price, a measure of the average price at which BTC was last moved, has surged 61.82%, outperforming the YoY market value to realized value’s (MVRV) decline of 8.98%.

Bitcoin price movement between time zones.Source: X.comRelated: Bitcoin could hit $210K in 2025, says Presto research headBitcoin futures market hints at “long squeeze” below $91,000Bitcoin’s funding rate has turned positive, signaling a dominance of long positions as traders bet on price rises above $90,000.

This indicates long-term holders are raising the base price faster than speculative price increases, a healthy signal for the cycle. The negative MVRV suggests that Bitcoin is trading below its fundamental value compared to a year ago, a pattern that precedes significant rallies.

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Article Details

Author / Journalist: Cointelegraph by Biraajmaan Tamuly

Category: Crypto

Markets: United States

Topics: Market April Realized Speculative Adler Value Price Bitcoin’s Axel Bitcoin Chart

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-28 @ 20:30:00 (10 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 538 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28273140

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About Coin Telegraph

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Official Website: cointelegraph.com

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