On-chain data suggests growing chance of BTC consolidation

An analysis suggests that on-chain indicators point to an increasing likelihood of market consolidation for Bitcoin. In a contribution to CryptoQuant, analyst CrypZeno explained that Bitcoin's Market Value to Realized Value (MVRV) ratio has turned downward after facing resistance in an overvalued zone. According to the analyst, this indicates that the growth of unrealized profits is slowing and suggests an increased likelihood of selling by long-term holders. CrypZeno concluded that market momentum is showing signs of slowing, raising the possibility of a correction or a period of sideways movement.