Bitcoin MVRV is Signaling Positive!

When we look at the historical relationship between MVRV and the 365-day moving average (SMA365), we see a remarkable result. After MVRV crosses above SMA365, Bitcoin usually sees a strong growth. Currently, after reaching a local low, MVRV is trending up (from 1.71 to 2.04).

Conclusion:

MVRV --> 2.04

SMA365 (MVRV) --> 2.02

The fact that MVRV has crossed above SMA365 again is a strong positive signal. With the return of bullish investors, Bitcoin has tested the $66,000 level.

The footsteps of bullish investors have never been stronger!