Daily Learning 👀 — Bitcoin - MVRV Z-Score 🤌 The MVRV Z-Score is a classic on-chain valuation indicator for Bitcoin, used to measure the deviation of the current market price from the actual cost basis of holders, and through statistical normalization, to identify extreme overbought or oversold regions. The green line (MVRV Score) spikes significantly at the peaks of previous bull markets (such as 2013, 2017, 2021) (often >5-10), followed by sharp price corrections. The yellow line (BTC price) is highly correlated with the green line, especially in the late stages of a bull market when the green line surges, and the price also peaks. During bear market bottoms, the green line often drops below zero or even negative, indicating an undervalued zone. 💰 Reference value for Bitcoin investment: ① Identifying bull market tops (sell/trim signals): When the Z-Score > 5~7 (or even higher), historically it consistently corresponds to extreme overvaluation in the market, often marking the top of a bull cycle (such as late 2017, late 2021). At this point, speculative sentiment is overheated, and profit-taking risks are high. Many long-term holders gradually realize profits in this region. ② Identifying bear market bottoms (buy/accumulation signals): When the Z-Score < 0 (or even lower), it indicates that the current price is far below most holders' cost basis, representing a severely undervalued zone. Historically, this has been an excellent long-term buying opportunity (such as at the bottoms of 2015, 2019, 2022), often leading to a new bull run afterward. ③ Judging the current cycle position (neutral/fair value zone): Around 0~3 is usually considered "fair value" or mid-cycle in a bull market, neither extremely overvalued nor undervalued, suitable for holding or operating based on other indicators. Currently (around May 2026), based on public data, the Z-Score is around 0.9~1 (BTC price about $80k), in a relatively neutral/slightly overvalued state but far from the previous cycle's top levels, indicating the cycle has not yet entered the final euphoria phase. 🤔 In summary, the MVRV Z-Score is one of Bitcoin’s “thermometers”—when high, beware of bubbles; when low, consider dollar-cost averaging. The current chart shows it remains in a relatively moderate position historically. For medium- to long-term Bitcoin investors, there is still a reasonable safety margin, but continuous monitoring for rapid surges into high-risk zones is necessary. #Gate广场五月交易分享

Recently, many new partners have joined our big family one after another, and I am very happy to meet everyone on the journey of exploring the market! Every new addition is a brand new beginning. Market opportunities are always there; there's no need to rush. Maintaining a calm mindset and accumulating experience are the first steps to long-term stability. The new journey has just begun, and moving forward, we will walk slowly and steadily together. Sincerely thank every friend for your recognition and trust. In the vast market environment, your willingness to get close and entrust your journey to us is a heavy trust I have always kept in my heart. I firmly believe that trust is mutual, and I will never let down every partner who joins us. In the unpredictable market environment, Chenfeng has enough confidence and experience to lead each partner to clarify trends, find the right rhythm, and steadily create their own pace. The market environment changes rapidly, with ups and downs, and every day is filled with countless temptations and traps. The environment has never lacked opportunities; what is always missing are the correct directions, stable ideas, and reliable teams. Exploring alone is often confusing and passive; choosing the right trend, following the right team, and maintaining the rhythm are the ways to avoid risks and seize opportunities amid the ups and downs of the market. If the direction is wrong, effort is wasted; choosing the right track makes everything easier and more effective. Moving forward, we will fight side by side, steadily advancing in the market, and together harvest stable results. #Gate广场五月交易分享

On Saturday, Bitcoin once again sharply declined, directly falling below 78,000. This market behavior was already clearly emphasized last night, which is to go short. The entry point we provided was very close to the current price, Last night, we suggested short at 79,400, and as expected, it rebounded to around 79,400 in the early morning. During the session, at this level, we directly advised students to short. We updated the strategy again, urging everyone to continue shorting. After a full night’s sleep, it suddenly plummeted. Originally, the plan was to exit at 78,500, but as the market clearly accelerated its breakdown, We directly advised students to hold their positions. Just now, after breaking below 78,000, all positions were closed for profit. Actually, since last night, we started to turn around and short, And in the evening, we indicated a short at the current price. The thinking has been very clear: do not be stubbornly long or short, Instead, adjust according to market changes. From a technical perspective, The overall market is in a rapid transition from a high-level bullish profit-taking phase to a decline, With daily and weekly charts closing lower. Over the weekend, I personally expect further weak adjustments. The four-hour chart shows a unilateral weak decline, With increasing volume during the acceleration. The short positions we turned around and took yesterday, along with the openly suggested shorts tonight, Have expanded profit potential as the market continues its one-way drop. Currently, the four-hour chart shows a relatively weak trend, A short-term weak unilateral decline. After consolidating and gathering strength, Intra-day, continue to buy the dips and short the rallies, And over the weekend, keep an eye on breaking lower for further downside. Today, for short-term trading, I personally suggest being more aggressive—short at any point. For those waiting for specific levels, consider shorting around 78,500-79,000, Targeting near 77,000.