Bitcoin network stabilization is evident in April 2025 as key on-chain metrics return to historical norms, signaling a decline in speculative excess. Glassnode’s latest report highlights indicators like MVRV, SOPR, and Sell-Side Risk Ratio, which show balanced profit-taking and reduced investor euphoria. This shift marks a transition from volatile correction to a consolidation phase, laying the foundation for sustainable market growth.
Bitcoin Network Stabilization Through MVRV
The MVRV ratio, comparing market to realized value, stabilized at 1.74, akin to levels seen in August 2024. This indicates that the average investor is at breakeven, reducing incentives for mass sell-offs. Glassnode notes that 88% of coins are in profit, a high but non-extreme level, supporting network stability. Historically, MVRV above 3.2 signaled market tops, while below 1 indicated undervaluation, making the current level a sign of equilibrium.
SOPR and Investor Behavior
SOPR, measuring transaction profitability, returned to a neutral 1.0, reflecting minimal loss-taking or profit realization. Long-term holders (LTH) accumulated 254,000 BTC since the recent low, mostly at prices above $95,000, showing confidence and low selling activity. Short-term holders have also reduced capitulation, further supporting market balance. These trends align with BTC on-chain metrics indicating reduced speculation.
Technical Levels and Market Outlook
Bitcoin trades at $94,700, above the 111-day moving average ($91,300) and short-term holder cost basis ($93,200). Holding these levels is critical to avoid unrealized losses. The market is consolidating in the $93,000–$95,000 range, a zone seen from November 2024 to February 2025. A recent breakout from a downtrend suggests a potential structural reversal, bolstered by crypto market consolidation.
