Bitcoin’s BTC on-chain metrics indicate a significant market stress signal. The short-term holder (STH) market value to realized value (MVRV) ratio has dropped to 0.82. This level traditionally relates to a period of market capitulation, as outlined in recent Glassnode analyses. Investors should remain vigilant as this metric often precedes a deeper downward trend, making it essential for traders to adopt strategic measures during this turbulent phase.