**Bitcoin Market Update 🌟**

- Bitcoin is in a correction phase, trading 11% below its all-time high of $108k, yet maintaining key support levels, indicating a resilient market structure.

- The MVRV ratio, at 1.32, shows an average unrealized profit of 32%, suggesting positive market sentiment despite recent corrections.

- Short-term holders face moderate stress, with 2.0–3.5M BTC underwater, but the market remains less distressed than previous cycles.

- The optimized 1-year MVRV Z-Score offers a framework for identifying market phases, with Bitcoin still in bullish territory, trading at $94,398.