Bitcoin&#8217;s latest market pullback has pushed its MVRV ratio back into a 
critical zone that has historically been associated with macro correction lows 
and early-stage recovery setups. The MVRV metric now reflects a valuation 
reset similar to the conditions that preceded major rebound phases in prior 
cycles. Why The Reset Reinforces Bitcoin Value Proposition The crypto bearish 
performance echoes through the Bitcoin community as the Market Value to 
Realized Value (MVRV) ratio dips into the critical 1.8 to 2.0 range, a zone 
significant for past cycle corrections where BTC found its footing before 
initiating a recovery. An ambassador and market expert, BitBull, has revealed 
on X that for those unfamiliar with its significance, the MVRV ratio compares 
BTC&#8217;s current market value to its realized value, which is what investors 
actually paid for their coins. Related Reading: Bitcoin Sentiment Flatline: 
Bull Score Crashes To 0 – What This Means For The Market However, when this 
ratio dips near 2, it signals that a majority of holders are hovering around 
their cost basis. At this point, there&#8217;s no greed left in the system, just 
conviction. Historically, this 1.8 to 2.0 MVRV range has coincided with major 
market bottoms in June 2021, November 2022, and April 2025, when the market 
felt broken, but BTC was quietly resetting. With the MVRV ratio currently re- 
entering this same critical zone, combined with the massive liquidations 
observed recently and a palpable sense of panic across the market, the pattern 
feels eerily familiar. Every time sentiment turns into hopelessness, on-chain 
data would show a different story of exhaustion, not collapse. BitBull 
personally views this phase as one of compression, not capitulation, 
indicating short-term pain but a long-term opportunity. The same market 
dynamics cycle that previously punished excessive leverage is now washing out 
the remaining weak hands. BitBull concluded that if history rhymes, this will 
be the part of the story where the bottom gets written, not the top. Why 
Liquidity Matters More Than Interest Rates Liquidity has been a crucial 
component of the Bitcoin market. A full-time crypto trader and investor, Daan 
Crypto Trades, has pointed out that if there is one macro factor that drives 
BTC and the broader crypto market, it&#8217;s the amount of global liquidity within 
the financial system, not interest rates. Related Reading: Bitcoin Liquidity 
Grabs: Institutions Target Low-Volume Zones To Move BTC Price This correlation 
is clear from comparing the global liquidity index with BTC&#8217;s price movements 
over the years. Daan has recently observed a shift where global liquidity has 
stopped expanding and begun to trend downwards again. However, this change has 
put a halt to BTS&#8217;s upward momentum, combined with the anticipated profit- 
taking behavior observed during the 4-year market cycle. &#8220;Once global 
liquidity starts expanding at a rapid pace, the market environment for crypto 
will become significantly more supportive than it is currently,&#8221; the expert 
noted. Featured image from Pixabay, chart from Tradingview.com

Bitcoin Valuation Reset: MVRV Slides Into Macro Correction Territory — What This Means

Ray Dalio has fired a shot across the macro bow, arguing that the Federal 
Reserve’s latest balance-sheet guidance risks “stimulating into a bubble” 
rather than stabilizing a weakening economy—an inversion of the classic post- 
crisis QE playbook with potentially seismic implications for hard assets, 
including Bitcoin. In a post titled “Stimulating Into a Bubble,” Dalio frames 
the Fed’s pivot—ending quantitative tightening and signaling that reserves 
will need to start growing again—as the next milestone in the late stage of 
the Big Debt Cycle. “Did you see that the Fed’s announcement that it will stop 
QT and begin QE?” he wrote, cautioning that, even if described as a technical 
maneuver, it is “an easing move… to track the progression of the Big Debt 
Cycle.” If balance-sheet expansion coincides with rate cuts and persistent 
fiscal deficits, Dalio warns, markets will be staring at a “classic monetary 
and fiscal interaction of the Fed and the Treasury to monetize government 
debt.” He adds that, in such a setup—high equity prices, tight credit spreads, 
low unemployment, above-target inflation, and an AI-led mania—“it will look to 
me like the Fed is stimulating into a bubble.” Related Reading: Did Bitcoin 
Just Bottom? Trader Says The Low Must Form Now The policy context for Dalio’s 
warning is not imaginary. After months of tightening liquidity and ebbing bank 
reserves, the Fed has announced it will end balance-sheet runoff (QT). Chair 
Jerome Powell underscored that, within the ample-reserves framework, the 
central bank will at some point have to add reserves again: “At a certain 
point, you’ll want reserves to start gradually growing to keep up with the 
size of the banking system and the size of the economy. So we’ll be adding 
reserves at a certain point,” he said at his October 29 press conference. 
Officials and many sell-side desks have emphasized that reserve management 
need not equal a return to crisis-era QE. The practical similarity: if the Fed 
is again a steady net buyer of Treasuries to maintain “ample” reserves as 
deficits persist, the market experience can rhyme with QE even without the 
label. While Dalio spars Bitcoin from his post, the mechanics are familiar to 
Bitcoin investors. He argues that when central banks buy bonds and push real 
yields down, “what happens next depends on where the liquidity goes.” If it 
remains in financial assets, “multiples expand, risk spreads compress, and 
gold rises,” producing “financial asset inflation.” Related Reading: Galaxy 
Digital Slashes Bitcoin EOY Price Target To $120,000 If it seeps into goods 
and services, inflation rises and real returns can erode. Crucially for cross- 
asset allocation, Dalio frames relative returns explicitly: with gold yielding 
0% and, say, a 10-year Treasury yielding ~4%, gold outperforms if its price 
appreciation is expected to exceed that rate, especially as inflation 
expectations rise and the currency’s purchasing power falls. In that 
environment, “the more money and credit central banks are making, the higher I 
expect the inflation rate to be, and the less I like bonds relative to gold.” 
What This Means For Bitcoin Commentators immediately translated those 
mechanics for Bitcoin. “Fed resumes QE → more liquidity → real interest rates 
fall,” wrote Coin Bureau CEO Nick Puckrin. “Falling real rates → bonds &amp; cash 
become unattractive → money chases risk and hard assets… Inflation risk rises 
→ investors hedge with gold, commodities, and digital stores of value.” He 
highlighted Dalio’s own language—“gold rises so there is financial asset 
inflation,” and QE “pushes real yields down and pushes P/E multiples 
up”—before concluding: “Bitcoin thrives in precisely that environment… it’s 
digital gold on steroids.” Millionaire investor Thomas Kralow sharpened the 
timing risk embedded in Dalio’s framework: this would not be “stimulus into a 
depression” but “stimulus into a mania.” In his words, liquidity would “flood 
already overheated markets… stocks melt up, gold rips, and crypto… goes 
vertical,” with the usual risk-on sequence across the crypto complex. His 
caveat mirrors Dalio’s late-cycle caution: a liquidity melt-up now, then—on a 
longer horizon—re-acceleration in inflation, a forced policy reversal, and a 
violent bubble pop. For Bitcoin, the near-term transmission is 
straightforward. Lower real yields and expanding liquidity historically 
coincide with stronger performance of long-duration, high-beta, and scarcity 
narratives; similar to 1999-style melt-ups and late-cycle surges in hard 
assets, including gold—and, by extension, BTC as a “digital gold” proxy. But 
the medium-to-long-term tension is unresolved: if the same easing stokes 
renewed inflation pressure, the exit—the point at which policy must tighten 
into the bubble—becomes the regime break Dalio is flagging. Dalio’s bottom 
line is not a trading signal but a regime warning. “Whether this becomes a 
full and classic stimulative QE (with big net purchases) remains to be seen,” 
he writes. If the Fed is indeed easing into a bubble, Bitcoin may benefit on 
the way up—but that path, by Dalio’s own schema, ends with impact. At press 
time, Bitcoin traded at $99,717. Featured image created with DALL.E, chart 
from TradingView.com

Most Dangerous Bitcoin Boom Yet? Ray Dalio Warns Of ‘Stimulus Into A Bubble’

On Friday, while bitcoin floated just north of the $100,000 mark, a 2016-era 
whale suddenly woke up—moving 216.95 BTC valued at $22.47 million after 
sitting still for 9 years and 4 months. Dormant 2016 Wallet Makes a Splash 
Talk around town has zeroed in on OG bitcoin holders shifting hefty stacks of 
long-idle coins. Since […]

Long-Sleeping Bitcoin Wallet Reemerges After 9 Years, Moves 216 BTC Worth $22.47M

Ethereum has been struggling to reclaim higher levels after losing the $3,100 
mark earlier this week, as selling pressure and market-wide uncertainty 
continue to weigh on price action. Bulls are attempting to defend key support 
zones, but so far, momentum remains weak and upside recovery efforts have 
failed to gain traction. Despite this, no clear sign of a deeper breakdown has 
emerged, suggesting that the market could still be in a consolidation phase 
rather than entering a new bearish leg. Related Reading: Ethereum Whales 
Accumulate Aggressively: 394K ETH Worth $1.37B In Just 3 Days In the midst of 
this volatility, Sharplink Gaming — notably one of the first Nasdaq-listed 
companies to adopt a treasury strategy centered around Ethereum — has made 
significant on-chain moves during the recent downturn. This activity comes at 
a time when market sentiment has turned fearful and liquidity across exchanges 
has thinned, hinting that institutional actors may be positioning 
strategically amid the chaos. While the broader market remains on edge 
following Bitcoin’s dip below $100K, Ethereum’s network fundamentals and 
corporate adoption trends continue to attract long-term attention. Sharplink’s 
recent actions underscore the growing institutional role in ETH markets — and 
may signal that some players see opportunity where others see risk. Sharplink 
Gaming’s Ethereum Moves Signal Strategic Positioning According to data from 
Arkham shared by Lookonchain, a wallet linked to Sharplink Gaming made a 
significant move during the latest market correction. The wallet redeemed 
5,284 ETH, valued at roughly $17.52 million, and subsequently deposited 4,364 
ETH ($14.47 million) into OKX just four hours ago. The company’s total 
Ethereum holdings have risen to 859,395 ETH, now worth approximately $3.58 
billion at current market prices. This makes Sharplink one of the most 
prominent institutional ETH holders, reinforcing its conviction in Ethereum’s 
long-term value despite short-term volatility. The move sparked debate among 
analysts, as the OKX deposit could imply either profit-taking or liquidity 
repositioning, depending on the company’s broader risk management strategy. 
However, given Sharplink’s consistent Ethereum accumulation and public 
alignment with blockchain-based initiatives, the transaction may instead 
represent active portfolio rebalancing during market stress — a sign of 
confidence rather than retreat. As Ethereum struggles to stabilize above 
$3,300, institutional moves like these highlight that smart money remains 
engaged, potentially setting the foundation for a stronger recovery once 
market sentiment improves and macro conditions stabilize. Related Reading: 
Bitcoin OI Suffers Deepest Drop Of The Cycle: $10B Leverage Wipeout Leaves 
Traders Cautious Ethereum Finds Temporary Support, But Recovery Faces Major 
Resistance Ethereum is currently trading around $3,298, struggling to reclaim 
ground after the sharp correction that drove prices below the $3,100 level 
earlier this week. The daily chart shows ETH attempting to stabilize above its 
200-day moving average (red line) — a historically significant support zone 
that has served as a reversal area in previous market cycles. However, the 
broader structure remains fragile. Ethereum continues to trade below both its 
50-day and 100-day moving averages, indicating that short- and mid-term 
momentum remains bearish. Bulls must reclaim the $3,400–$3,500 zone to confirm 
a stronger recovery, as this area represents both a psychological level and 
the point where the 50-day MA could act as dynamic resistance. Related 
Reading: Anti-CZ Whale Flips Bullish: Now Long $109M In Ethereum While Holding 
Massive Meme Shorts For now, Ethereum remains in a critical consolidation 
phase — holding above $3,200 is essential to prevent deeper losses. A decisive 
close below the 200-day MA, however, could open the door to a retest of 
$2,900–$3,000, marking a deeper correction phase. Featured image from ChatGPT, 
chart from TradingView.com

SharpLink Gaming Wallet Moves Freshly Redeemed Ethereum to OKX – Details

Santiment said Bitcoin’s retail-whale divide is a flashing warning sign, while 
other analysts anticipate new highs on a macro rebound.

Cryptocurrency price in IDR