Bitcoin's on-chain metrics are signaling a bullish trend as the MVRV ratio increased from 1.9 to 2.4 in October, surpassing its yearly average. This rise suggests renewed strength in the market, with 99.3% of Bitcoin's supply currently in profit. Analysts highlight the $100K–$110K range as a critical resistance zone, with profitability metrics and on-chain momentum aligning. Analyst Ali notes a decisive trend change, indicating a return to accumulation after a period of market hesitation.