CoinVoice latest news, CryptoQuant analyst Axel posted on social media that the annualized real MVRV (capitalização de mercado/valor realizado) of BTC has returned to positive territory, meaning that the average cost price of all tokens purchased in the past year is now below the current market price. The panic selling pressure is easing—most Participações have now realized profits and do not need to recognize losses to exit. The confidence of holders is continuously increasing. This "ponto crítico de conversão" coincides with the market recovery phase, marking the beginning of a more sustainable price growth cycle. This trend will continue until the speculative premium accumulates to a sufficiently high level, prompting holders to choose to take profits.