Bitcoin holds near 60450 with extreme fear and flat macro conditions.

Bitcoin trades near 60450 amid extreme fear and an MVRV of 1.13, which keeps holders from aggressive selling yet produces no sustained buying pressure or leverage to drive price higher. The ignored contradiction sits in the network's rising hashrate and stable infrastructure alongside macro stability that offers no fresh liquidity or risk catalyst, leaving security intact while price support stays absent. How long can elevated hashrate coexist with MVRV this low before miners or holders force a supply adjustment that tests the current range?