Bitcoin's price remains stagnant, trading near $88,000, as on-chain data indicates potential distribution risks. Metrics such as the Market Value to Realized Value (MVRV) ratio suggest increased profit-taking activities, with long-term holders and whales reportedly offloading their holdings. CryptoQuant's analysis highlights significant selling pressure, suggesting a possible support level at $70,000. Analysts are divided on the outlook, with some attributing the stagnation to a bearish shift, while others cite seasonal volatility as a contributing factor.