Analysis of the MVRV 100 day-moving average metric in past cycles shows that it is an optimized indicator for detecting market tops and bottoms. As seen in the chart, the MVRV metric reached the value of 3 at the market tops in the past two cycles, whereas it currently stands at 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 occur in the coming months.
Written by CryptoOnchain
