CoinVoice has learned that CryptoQuant analyst Axel posted on social media stating that the annualized real MVRV (market capitalization/realized value ratio) of BTC has returned to the positive range, indicating that the average cost price of all tokens purchased in the past year is now below the current market price. Panic selling pressure is weakening — most holders are now in profit and do not need to realize losses to exit. Confidence among holders is continuously increasing. This "critical point transition" coincides with the market recovery phase, marking the beginning of a more sustainable price growth cycle. This trend will continue until the speculative premium accumulates to a sufficiently high level, prompting holders to choose to take profits.