Spot CVD analysis shows persistent sell-side pressure above $0.98. MVRV Z-score remains in the 'fair value' zone, negating undervaluation narratives for a 70%+ parabolic move. On-chain transaction velocity is decelerating, failing to signal the demand necessary for a $1.70-$1.80 retest. Derivative open interest lacks growth, confirming low institutional bid. 90% NO — invalid if significant positive SEC litigation news breaks before April 28.
Spot CVD analysis shows persistent sell-side pressure above $0.98. MVRV Z-score remains in the 'fair value' zone, negating undervaluation narratives for a 70%+ parabolic move. On-chain transaction velocity is decelerating, failing to signal the demand necessary for a $1.70-$1.80 retest. Derivative open interest lacks growth, confirming low institutional bid. 90% NO — invalid if significant positive SEC litigation news breaks before April 28.
