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Only BTC is in green, is the bull run still on?
If you only look at the market, you might think the trend has already played out. But from the on-chain indicators, it seems a bit different.
The MVRV Z-score is currently around 2, well below the historical peak range (>7), which means we have not yet reached the bubble stage.
Why hasn't the altcoin risen?
When funds come in from outside, they will certainly first flow into Bitcoin. This is the strongest consensus anchor point in the entire crypto market, like the largest cup of water.
Only when this cup of BTC is full will the water start to naturally overflow to ETH, mainstream coins, and finally to altcoins for a rise.
At this stage, the water level is still rising continuously. Don't worry, the water is almost full.
#非农就业数据来袭#