Analyst: Indicators show that Bitcoin will face significant selling pressure from short-term holders when it rises to $118000

According to BlockBeats, on May 15th, CryptoQuant analyst Axel posted on social media that the current market value to realized value (MVRV) metric for Bitcoin short-term holders (STH) is 1.09. It is expected that the first significant selling pressure will appear around 1.25 (target price ≈ 118000 US dollars), and stronger selling pressure may appear at 1.35 (≈ 128000 US dollars). Based on the current average daily growth rate, STH MVRV may reach 1.25 in early June and 1.35 by the end of the month.