The MVRV indicator signals a possible reversal in the BTC price and time to buy the bottom. Trader and cryptanalyst Ali Martinez (65.5 thousand subscribers in X) came to this conclusion by analyzing#Santimentdata:
“Since February 2023,#BitcoinMVRV has dropped below -8.40% four times, causing $BTC price spikes of 63%, 100%, 92% and 28%.
Currently, with#BTCprice below $60,000 and MVRV at -8.96%, this could be the perfect time to buy the dip!”
Martinez and his estimates of MVRV (this is an indicator of the ratio of market capitalization to realized) are worth listening to, if only because on March 5, analyzing this indicator, he gave an estimate - MVRV came to levels from which historically BTC received a dump of 24-55% . The decline, we recall, began on March 14 and from the high on that day to the low on May 1 amounted to -23.6%.
