According to Mars Finance news, on May 2nd, CryptoQuant analyst Axel posted on social media that the annualized real MVRV (Market Value/Realized Value Ratio) of BTC has returned to positive territory, meaning that the average cost price of all tokens purchased in the past year is now below the current market price. The panic selling pressure is easing—most holders have now achieved profits and do not need to take losses to exit. The confidence of holders is continuously strengthening. This 'critical point transition' coincides with the market recovery phase, marking the beginning of a more sustainable price growth cycle. This trend will continue until the speculative premium accumulates to a sufficiently high level, prompting holders to choose to take profits.