Bitcoin is in a spot-driven bull market with a healthy correction on the MVRV metric

"Based on the current Bitcoin MVRV (realized value to market value) ratio, it's not surprising to see a pause in the bull run," said Checkmate (@ checkmatey ), principal analyst at on-chain analytics firm Glassnode, via X. "Long-term holders of BTC have begun to sell off near the $20,000 highs....