Bitcoin is hovering around its realized price level near $94.5K.
Warm supply MVRV shows signs of recovering from a red zone.
This level may hint at stronger belief from medium-term investors.
Bitcoin is testing a crucial realized price level at $94,550, signaling potential support from mid-term holders amid fluctuating market sentiment. As of April 29, 2025, BTC traded at $94,928.77, hovering just above its warm supply realized price. The move has drawn close attention from traders assessing whether this level can hold under current market pressures.
Source: X
The metric in question—warm supply realized price—represents the average price at which mid-term holders acquired their BTC. Holding above this benchmark often signals that these investors remain in profit and may continue holding rather than selling. At present, Bitcoin's warm supply MVRV (Market Value to Realized Value) reads -0.00267577, hovering around neutral territory.
This technical scenario provides a valuable lens into investor psychology. The MVRV metric turning negative typically reflects holders being at a loss. However, Bitcoin maintaining a position above the $94.5K level suggests a critical test of conviction.
Mid-Term Holders Anchor the $94.5K Threshold
Mid-term holders are often defined by their consistent market behavior and non-reactionary investment strategy. They play a key role in price stabilization. When these participants hold above their realized price, it reflects resilience against short-term volatility.
The chart shows that the realized price of the warm supply cohort has climbed steadily since late November 2024. From below $70,000, it now sits near $94,551. This rise points to increasing capital commitment among mid-term investors over recent months.
Historical analysis indicates that support near this realized price zone can provide a floor in downward-trending markets. If prices stay above this level, it could prevent further sell-offs. However, if breached, it may lead to accelerated downside moves due to panic among holders.
Glassnode data also shows a shift in MVRV dynamics. Red zones in the chart indicate periods when mid-term holders were in net unrealized loss. These moments often correlate with weak market confidence. But the recent transition into neutral or slightly positive MVRV may mark a turning point.
Investor Sentiment Hinges on This Price Action
Traders are now eyeing whether Bitcoin can maintain position above the $94.5K line. A failure could shift market psychology dramatically. The pivotal question remains: can mid-term holders sustain support and signal a broader uptrend?
Market watchers on social platforms are calling this level a "key signal" for mid-term conviction. Observers suggest that if BTC holds above $94,550, renewed support from this group could emerge. This narrative is also supported by stable realized price growth despite prior price drawdowns.
The presence of green MVRV areas on the chart highlights periods of profit-taking. These zones may return if BTC confirms strength above $94.5K. Otherwise, further pressure could drive the price below this level, testing the resolve of holders.
