Bitcoin STH MVRV Trendline Holds Across Three ATH Peaks: Structural Shift Hinges on Realized Price Reclaim

TLDR: Bitcoin has printed three consecutive ATHs in 2024–2025, each accompanied by a lower STH MVRV peak.  A descending MVRV trendline has connected three structural peaks with precision since March 2024. Reclaiming the STH Realized Price would shift short-term holders from loss to a profit-dominated state. MVRV must stabilize above 1.0 alongside a Realized Price [...]

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