Data at 8 AM Beijing time today shows that the two core indicators of the crypto market are exhibiting a rare synchronous stagnation. The STH-MVRV indicator reports 1.16, just a fraction away from the breakthrough threshold of 1.18, yet it has not been able to cross it.
(Figure 1)
The AVIV indicator is similarly running at a value of 1.16, pausing after approaching the critical blue line at +1 sd, without further upward breakthrough.
(Figure 2)
This indicator's collective 'hesitation' before the critical point resembles a contest between bulls and bears, waiting for a certain opportunity to break the balance and guide the market. The current market state is at a critical juncture that requires more signals to clarify the direction.