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This cycle may differ from past ones.
On-chain data shows the MVRV peak in
this cycle didn't reach the euphoria
levels seen in 2021 (~7x), staying closer
to ~1. This suggests institutional
absorption has smoothed out the
extremes, making the cycle more
"selective" rather than broadly euphoric.
The next halving is in 2028, and long-
term targets into 2027+ remain bullish
among most analysts.#WinGoldBarsWithGrowthPoints