According to online reports, CryptoQuant analyst Axel posted on social media that BTC's annualized real MVRV (market capitalization/realized value ratio) has returned to a positive range, which means that the average cost price of all tokens purchased in the past year has been lower than the current market price. Panic selling pressures are weakening-most people who hold positions are now profitable and do not need to admit losses and leave the market. Confidence among currency holders continues to increase. This "tipping point transition" coincides with the market recovery phase, marking the beginning of a more sustainable price growth cycle. This trend will continue until speculative premiums accumulate high enough to encourage currency holders to choose profit-taking.