According to ChainCatcher, CryptoQuant analysts said that analysis of the MVRV 100-day moving average indicator shows that Bitcoin has not yet reached the highest price of this cycle. The MVRV 100-day moving average indicator is an optimized indicator for detecting market tops and bottoms. In the past two cycles, the MVRV indicator reached 3 at the top of the market, and is currently 2.14. Based on this, it can be said that Bitcoin is preparing to move towards the top price of this cycle, which is likely to happen in the next few months.
