BTC is facing the key top of $72,000. It can be seen that BTC peaked and fell back in March, confirming the MVRV resistance, and is now approaching this key point again.

MVRV is an indicator made by comparing the BTC price with the on-chain data, similar to the P/E ratio indicator in the stock market.

In the stock market, if the stock price is much higher than the money earned by the company, it means that there is a bubble. Corresponding to the coin, the coin price is much higher than the on-chain activity.

There may not be a fall even if there is a bubble. After all, if you want to drink beer, you must drink the bubble. It can be seen that before the big bull market starts, MVRV will rise to the top, and everyone is buying at this time. The MVRV indicator has also become one of the key indicators for measuring bull and bear markets. The top and bottom points corresponding to MVRV are often the key points of price. The market has ushered in a turning point in the past two days, and Baichuan will also keep a close eye on the market

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