CryptoQuant Analyst: STH MVRV Index Shows Signs of Stabilization, Rebounding from 0.9124 to 0.9514

Foresight News reported that CryptoQuant analyst Axel Adler Jr tweeted, "On November 7, the STH MVRV index hit a local low of 0.9124, approaching the lower bound of its statistical range. As of today, the index has shown signs of stabilization, rebounding from 0.9124 to 0.9514. If this indicator remains above 0.92, it may start to move towards the upper bound of the range, which could correspond to $115,000 to $120,000."

Foresight News notes that the STH MVRV index (Short-Term Holder Market Value to Realized Value Ratio) is an on-chain analysis metric for bitcoin, mainly measuring the average profit or loss status of Short-Term Holders.