Another milestone in the cryptocurrency market, Bitcoin (BTC) price has broken through the $99,000 mark, heading for $100,000. It has set a new all-time high. With Bitcoin continuously breaking historical highs, we, as investors, can't help but ask, is Bitcoin overvalued, and should we sell?
Market Indicator Analysis
To better understand the current market situation, we can refer to several key market indicators:
1. Mayer Multiple
The Mayer Multiple value is 1.5, and BTC is currently still in the defined moderate price range, not overbought.
2. MVRV (Market Value to Realized Value)
The MVRV ratio measures the relationship between Bitcoin's market value and realized value. The current MVRV ratio >3 indicates that the bull market is entering its second half, and investors may start to sell for profits.
3. Fear and Greed Index
On the 22nd, the cryptocurrency fear and greed index rose to 94 (yesterday it was 82), with the market being in a state of 'extreme greed' for 11 consecutive days.
Summary
From various indicators, the bull market has entered its second half, and we should remain cautious, fully recognizing the high-risk characteristics of cryptocurrencies. The decision to take profits ultimately rests in our own hands, as everyone's risk tolerance and investment goals are different.
