Bitcoin grew by 15% in a month

Bitcoin BTC $106,147.53 Bitcoin -0.92% Market capitalization $2.11 trillion VOL. 24 hours $1.61 billion has shown an increase of 15% over the past month and is trading at around $ 109,000, despite a slight daily decline of 0.6%. This forward movement comes amid a new all-time high of over $ 111,000 in early May, which confirms that the positive trend will continue in the second quarter of 2025.

In his review, CryptoQuant analyst Burak Kesmeji emphasizes the MVRV (Market Value to Realized Value) indicator, which is used to assess asset returns and the overall market sentiment. Currently, the MVRV value is 2.36, which is significantly higher than the 365-day moving average (2.14), which historically indicates the possibility of further growth. However, an important level of resistance that Kesmeji draws attention to is at 2.93, where growth has faded in the past.

Kesmeji warns that an approach to this level could lead to market stabilization or even correction. He urges investors to closely monitor the behavior of the indicator, as approaching critical values often forces participants to reconsider their own risks and strategies.

The analyst pays special attention to the lack of activity on the part of retail investors. Despite the record prices, the volume of transfers in small amounts (up to $ 10,000) remains low, which indicates that the current growth is mainly supported by institutional players.

Historically, it has been the massive entry of retail investors that has been a key factor in long bull runs, such as the one in 2020−2021. Thus, future growth may depend to a large extent on whether a broader audience of small investors will join the market.