MVRV Ratio, one of the most effective indicators to identify tops and bottoms in Bitcoin's price, has reached the historically significant level of 1.27.
An asset’s market capitalization divided by realized capitalization defines the MVRV Ratio. Put simply, it is the ratio of an asset’s current price to the average price at which each token was acquired.
When the ratio is below 1, it means that most holders are in losses and is interpreted as a buy signal. The more the ratio increases, the more people will be willing to sell as the potential profits increase. As per a CryptoQuant author, 1.2 has acted as a key support level. As indicated below, whenever this level was honored, BTC prices moved northwards, and whenever it was violated, prices moved further to the downside.The press time value of 1.27 therefore, was more like a 50:50 scenario. While bullish leveraged traders would aim for a big bounce from the level, bearish leveraged traders hoped for the opposite.
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