Bitcoin Trades Below $115,000 as MVRV Ratio Indicates Bullish Potential
Bitcoin is currently trading around $113,098, down approximately 6.5% over the past week and nearly 9% below its all-time high. Analysts indicate that the broader market cycle may extend upward based on on-chain data.
Key Insights on Bitcoin's MVRV Ratio
- The MVRV ratio is approximately 2.1, indicating a "neutral to bullish" market condition.
- Historically, an MVRV above 3.5–4 suggests a market peak; levels below 1 indicate accumulation phases.
- For historical peak levels, Bitcoin's price would need to reach between $140,000 and $180,000.
- Short to mid-term corrections are possible as the market adjusts.
Exchange Activity Insights
- Significant outflows for tokens like ENJ and FET from Binance suggest long-term holding behavior.
- Assets such as ANKR and MATIC show strong inflows, indicating potential selling pressure or speculative positioning.
- Monitoring inflows versus outflows may reveal investment opportunities in the altcoin market.
