Key Takeaways:
Bitcoin’s year-over-year return and realized price metric signal strong long-term support from holders and suggest that BTC is currently undervalued.
Standard Chartered estimates a Bitcoin price target in the $110,000–$120,000 zone by Q2 2025.
Positive funding rates point to a potential long squeeze to $90,500.
Bitcoin’s (BTC) weekly close near $94,000 delivered an impressive year-over-year total return of 53.61%. Since the last halving in 2024, the market has shifted from the early 2024 euphoric phase to a “mature bull trend” based on onchain growth, rather than speculative frenzy.
Bitcoin fundamentals triumph over fear and speculation
Bitcoin researcher Axel Adler Jr. pointed out that the year-on-year (YoY) realized price, a measure of the average price at which BTC was last moved, has surged 61.82%, outperforming the YoY market value to realized value’s (MVRV) decline of 8.98%. This indicates long-term