According to BlockBeats, CryptoQuant analyst Axel stated that the market value to realized value (MVRV) indicator for Bitcoin short-term holders is at 1.09. The first wave of significant selling pressure is expected to occur around 1.25, with a target price of approximately $118,000.
Stronger selling pressure may occur when the MVRV indicator is at 1.35, with a target price of approximately $128,000. Based on the current average daily growth rate, the STH MVRV is expected to reach 1.25 by early June and 1.35 by the end of the month.
