Bitcoin Tests $76K as Short-Term Holder Profits Decline

Short-Term Holder MVRV is approaching 1 after exceeding 1.18 in September, indicating that recent buyers are nearing their average purchase price. Bitcoin recovered to approximately $77,961 on November 1 after defending the 76,000–77,000 support zone. RSI and MACD show improving short-term momentum, but resistance at $78,000, $80,000 and $82,000 remains ahead of stronger bullish confirmation. Bitcoin is testing short-term investor conviction near $76,000 as recent selling reduces profits among holders who bought during its rally. Analyst Darkfost reported that the Short-Term Holder MVRV is approaching 1, following a September peak above 1.18.