Bitcoin On-Chain Metrics Hint at Early Stages of New Bull Run
• Bitcoin's long-term holder MVRV metric has entered "high-risk" zone, typically seen in early bull markets as long-term investors become profitable again
• Percent of BTC Supply in Profit metric suggests Bitcoin is potentially a few thousand dollars away from entering a "euphoric phase" of a bull run
• These on-chain metrics signal Bitcoin may be in early stages of a new bull market
• Comes after recent recovery from FTX collapse and contraction to $38,000
• Bitcoin currently trading around $48,300