According to Odaily Planet Daily, CryptoQuant analyst Axel Adler Jr. stated that the Short-Term Holders (STH) MVRV indicator touched a local low of 0.9124 on November 7th, near the lower boundary of its statistical range. The indicator has since stabilized and rebounded to 0.9514. If it can maintain a level above 0.92, it may further rise to the upper boundary of the range, corresponding to a Bitcoin price between approximately $115,000 and $120,000.