Glassnode analyst: BTC breaking through a new ATH value historically represents a transition point from "enthusiastic bull" to "excited bull"
Glassnode, a blockchain data analysis company, analyst Checkmatey stated in a post that the breakthrough of Bitcoin's new ATH value represents a transition from a "passionate bull" to an "excited bull" in history. This also coincides with the MVRV ratio exceeding one standard deviation, but we rarely break it on the first attempt.
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