$BTC Bull Market Intact Despite #Volatility , Analysts Say $BTC briefly surpassed $112,000 on Monday morning, recovering from a volatile week that saw two major liquidation events across the crypto market. The cryptocurrency hit a 24-hour high of $112,293, surpassing $112,000 for the first time since Thursdays sharp decline. Current trading sits at $111,902. Crypto investment firm XWIN Research Japan argued in a CryptoQuant note Sunday that on-chain data continues to suggest Bitcoins #bullmarket remains active. While recent volatility unsettled traders, long-term holder behavior and Market Value to Realized Value ratio together show resilience beneath surface turbulence, according to the analysis. MVRV ratio dropped to 2, with average cost basis around half of current price. XWIN explained that this historically reflects neither panic nor euphoria, as investors maintain healthy gains while the market cools from overheated conditions. Past cycles have seen Bitcoin enter its strongest expansion phase after consolidating in this MVRV range. -taking by long-term investors has fallen, effectively reducing available supply. This development offsets short-term volatility and creates conditions for renewed demand to lift prices higher, according to XWINs assessment.