Bitcoin breaks 100,000 dollars, but is the sentiment not yet at its 'peak'?
The big coin is now steadily above 100,000 US dollars, but the market hasn't gone overboard.
Looking at key on-chain indicators — the MVRV ratio is still at 2.25, which is far below the 'frenzy zone' levels seen during past bullish peaks.
What does this mean? It indicates that most people have not reached the stage of significant profits and have not started to go 'crazy' on a large scale.
More importantly, this cycle's MVRV is clearly much 'calmer', which actually reflects the maturity of the market, the speculation has contracted, and the people playing with coins are no longer the impulsive novices from the previous cycle.
