Bitcoin trades near $65,000 as MVRV Z-Score remains below long-term average

🚨 Bitcoin trades near $65,000 and key on-chain metrics remain historically low.
📉 The MVRV Z-Score stays at 0.42, far below its long-term average of 1.7.
🟠 Realized losses reached $8.5 billion in June, but recent selling pressure is easing in $BTC.
📊 Previous cycle lows saw even lower MVRV values, yet no clear capitulation has occurred this time.

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