💧 Liquidity is turning up… and
$BTC still looks cheap.
📉 Current Price: $68.5K
📈 Power-Law Trend: $124.1K
➡️ Trading ~45% below long-term trajectory.
Price is set at the margin — and when liquidity improves, the clearing price can rise fast because supply is thin.
📊 On-chain signal: STH MVRV (155d) = 0.76
That means: 🔹 Average buyer from the last ~5 months is down ~24%
🔹 Only ~5% of that cohort is in profit
This creates a supply dynamic: Weak hands already sold.
Remaining holders are reluctant sellers.
Marginal supply dries up.
And when sell-side is thin… even small net demand can move price aggressively.
This is the structure recoveries are built on: Low available supply + improving liquidity = upside pressure.
$BTC is positioning in a classic recovery setup.
#BTC #Bitcoin #Crypto #OnChain #Liquidity