Bitcoin MVRV Z-Score Indicates Room for Price Growth
Bitcoin is currently trading at $107,740, having reached an intraday high of $108,116. It briefly retraced below $99,000 recently, but market sentiment remains bullish.
MVRV Z-Score Analysis
- The MVRV Z-Score indicates Bitcoin is not near its cycle top.
- Current MVRV Z-Score level is slightly above 2, signaling a neutral zone.
- Historically, significant price peaks occurred when the MVRV Z-Score exceeded 8.
Current Cycle Insights
- Recent MVRV Z-Score patterns show lower highs compared to past cycles.
- This suggests either market maturation or potential nearing of cycle peak.
- Predictions for Bitcoin's price peak range from $150,000 to $500,000.
Bitcoin's price is up by 1.4% in the last 24 hours.
