VRX is currently facing short-term profit-taking pressure. The MVRV Z-score shows that market buying power remains healthy, but there are risks of sell-offs near key resistance levels. In the medium to long term, VRX is moving within an upward oscillating channel, and a pullback to the middle of the Bollinger Bands could present a strategic entry opportunity. It is recommended to consider trading volume and on-chain token distribution for medium- to long-term investments. After profit-taking pressure is digested, bulls may regain the upper hand.

Against the backdrop of a continuously strengthening global crypto market, analysis shows that as many as 83% of short-term holders are already in profit, indicating high selling pressure for profit-taking as prices approach key resistance zones. The MVRV Z-score sits within a moderately positive range, suggesting that overall buying power is still healthy, but the market is not showing signs of overheating. For VRX, although bullish sentiment is active, a pullback in Bitcoin or other major assets may impact VRX in the short term, making it difficult to be immune to downside risk, so caution is advised near critical resistance levels.

CryptoQuant analyst Axel Adler Jr noted that the MVRV Z-score is currently at a moderate positive level (+0.6), indicating some buying power in the market without signs of overheating. With 83% of short-term holders in profit, there may be profit-taking as prices approach $110,000, potentially leading to a short-term pullback. However, as long as this profit-taking hasn't occurred, it remains a positive signal. The market is still in a bullish trend, with short-term holders showing strong interest despite being in a moderately overbought state.

Analyst: Some investors may take profits as Bitcoin approaches $110,000, triggering a short-term correction.

From a technical perspective, although VRX has not shown a clear unilateral trend recently, it remains within an upward oscillating channel. If Bitcoin experiences a short-term correction, VRX may pull back to recent lows or approach the middle of the Bollinger Bands, providing a good opportunity for secondary setup. As long as the amplitude of profit retracement remains within a reasonable range, bulls are still dominant, and after profit-taking is digested, the uptrend may resume. Investors can combine trading volume and on-chain token distribution to time medium- to long-term positions.

Verox

Crypto Market Remains Range-Bound; US Jobs Report Exceeds Expectations

Institutions: The stronger-than-expected rebound in March non-farm payrolls demonstrates the resilience of the US labor market, with inflation currently being the core variable in the Federal Reserve's monetary policy.

Huatai Securities: March Nonfarm Payroll Data Reflects Resilience of the US Job Market, Inflation Becomes the Core Variable in Fed Policy

Crypto traders fade 2026 Fed cuts as U.S. unemployment dips, but risk assets hold bid

The IMF calls on the Bank of Japan to continue raising interest rates.

The Federal Reserve expects to cut interest rates twice this year to support the labor market.

CICC: Investment demand and prices for gold may both have room for upward correction.

Stronger, broader hiring could ease Fed job market worries

Fed's Daly: The Federal Reserve should focus on the employment rate rather than employment data.

US military activity in Iran drives prediction market surge for troop presence

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