**Market Analysis: MVRV SMA365 Indicates Potential Bullish Trend**

**Introduction**

The MVRV (Market Value to Realized Value) ratio and its 365-day Simple Moving Average (SMA365) are critical indicators for understanding Bitcoin's market dynamics. Historically, when MVRV exceeds its SMA365, it often signals a bullish trend.

**Current Data**

Recent data shows MVRV at 1.92 and SMA365 at 2.00. The MVRV has risen from a local bottom of 1.71 to 1.90, suggesting a potential upward momentum.

**Market Factors**

Two key events could influence this trend: the Federal Reserve's interest rate decision on September 18 and the U.S. elections in November. These events may introduce short-term uncertainty, affecting market sentiment.

**Conclusion**

Post these events, a clear resolution could see MVRV surpassing SMA365, signaling a robust bullish phase for Bitcoin. The market outlook remains optimistic.