📊 Glassnode: in the cryptocurrency market — "summer lull"

Glassnode analysts are noting a slowdown in activity, despite Bitcoin's rise to $110,000:

🔻 Minimum turnover in a year:

📉 Spot market — $5.02 billion

📉 Futures — $31.2 billion

Both indicators continue to decline.

"This indicates a weakening of investor interest and a slowdown in on-chain activity," researchers explained.

💵 The total unrealized profit of BTC holders is already estimated at $1.2 trillion, which on one hand indicates capital growth, but on the other increases the risk of sell-offs with a change in sentiment.

🟢 MVRV maintains an upward trend

CryptoQuant analyst Burak Kesmechi noted that the MVRV indicator bounced off the 365-day moving average (SMA365) 12 days ago:

"Historically, as long as MVRV is above SMA365, the upward trend is strong. No complex models: MVRV > SMA365 — the trend is alive."

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