Bitcoin's MVRV Metric is Flashing Bullish Signals Again!
You can access all my MVRV alerts on CryptoQuant.
When we examine the historical relationship between the MVRV and its 365-day moving average (SMA365), we encounter a striking result. Following MVRV’s pricing above its SMA365, we often witness bulls stepping into the spotlight for Bitcoin. Currently, after forming its latest local low, the MVRV is showing an upward trend (rising from 1.71 to 2.04).
Conclusion
MVRV --> 2.04
SMA365 (MVRV) --> 2.02
The fact that the MVRV is once again pricing above its SMA365 is a strong bullish signal. With the bulls reclaiming market dominance, Bitcoin has tested the $66,000 level.
The footsteps of the bulls have never sounded stronger!
Written by burakkesmeci
