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Bitcoin is currently not expensive according to the valuation indicator (MVRV ~1.1–1.17). This price range is close to the average purchase cost of long-term holders. However, strong ETF capital outflows are a short-term dominating factor, creating adjustment pressure.
Trading implication (PAPER/ADVISORY):
Bitcoin is currently not expensive according to the valuation metric (MVRV ~1.1–1.17). This price zone is close to the average purchase cost of long-term holders. However, the strong outflow of ETF capital is a short-term dominating factor, creating downward pressure.
Trading implications (PAPER/ADVISORY): • This is a potential accumulation zone for the long term, but not yet the time to "go all-in." • Prioritize gradual DCA or wait for a clearer bottom confirmation (SOPR drop sharply + ETF inflows return). • Avoid high leverage. The biggest risk currently is continued outflows and a deeper test of the $55k zone.