The latest market analysis suggests that if Bitcoin’s MVRV ratio continues to increase, BTC’s price could be in the six-figure range by 2025.
Bitcoin $BTC ( while writing $87,519 ) touched $69,000 on United States Election Day on Nov. 5 as a key onchain metric flipped bullish, suggesting that BTC’s uptrend toward $120,000 “remains intact.”
Bullish MVRV ratio puts BTC price target at $120,000
In a market currently influenced by numerous macro-related issues, CoinLupin, an analyst at market intelligence firm CryptoQuant, optedfor the traditional approach, utilizing the market value realized value (MVRV) indicator to indirectly assess Bitcoin’s current value.
When Bitcoin’s price was trading at $68,755, the MVRV stood at 2, “indicating that the market’s surface value is twice the onchain estimated value,”
CoinLupin also found that the MVRV indicator recently surpassed the 365-day average and is presently above the four-year average, which typically reflects Bitcoin’s cycle.
“This suggests that the upward trend remains intact, and generally, the cycle peak tends to occur when the MVRV reaches levels between 3 and 3.6.”
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