CandleFocus Here’s What Will Happen If Bitcoin Respects This MVRV Ratio Support Level
2024-10-05
Author: Content Editor
A CryptoQuant analyst known as "tugbachain" has highlighted a downward trend in the Market Value to Realized Value (MVRV) ratio for Bitcoin. The MVRV ratio is a metric used to determine if a cryptocurrency is over or undervalued, and it has been useful in identifying market tops and bottoms in the past. Currently, the MVRV ratio sits at 1.9, with support at 1.75, and breaking the downtrend could lead to a rise in the ratio to the 4-6 range, potentially indicating a Bitcoin peak. Bitcoin recently experienced a price correction after briefly rallying above $66,000, but it has since rebounded slightly. Other analysts have also noted the impact of the MVRV ratio on Bitcoin's price movements, with each rejection of the ratio's 90-day average leading to significant corrections.
Related News
Coinbase seeks early appeal in SEC case after agency appeals Ripple ruling Top Crypto Gainers of Today: $DIA, $CELL, and $SUIP Show Strong Momentum Why Ethereum’s next step is zero-knowledge Bitcoin’s Rise to $70,000 Is in the Hands of These Investors 5 Altcoins to Watch as Crypto Market Rebounds: TAO, W, ETHW, APT, PYTH Bitcoin and Ethereum Stable as Top Coins Face Liquidations Amid Market Swings Here’s How Bitcoin Could Surge to $70,000, According to Crypto Analyst Justin Bennett Solana Price: "No Tomorrow Without $1,000," Analyst Forecasts XRP Lawsuit: Why SEC Appeal Targets Ripple CEO Garlinghouse & Chris Larsen? POPCAT Price Hits New ATH as Solana Meme Coin Rallies 120% Top OpenSea Employees Step Down Amid Regulatory and Financial Troubles Cardano Price Falls Out of Top 10, Can ADA Hit $1 in 2024? A Crypto Whale Investor Transfers 3M $EIGEN for Staking on Eigenlayer il Capo Shares What to Expect After Bitcoin’s Slight Recovery Blockchain Zone Initiative Launched to Protect Developers from Patent Trolls VC vet Ben Horowitz to support Kamala Harris after donating to Trump: Report 14 Crypto Tokens To Avoid Trading Next Week Amid $213M Token Unlocks Expert Says Dogecoin Price Could Hit $30 If DOGE Repeats This Pattern Arbitrum Price Eyes $1 Breakout as ARB Dominates L2 TVL Rankings Top 3 Artificial Intelligence (AI) Coins of the First Week of October 2024 Ethereum Price Crash Alert: Don’t Be Fooled, Pay Attention to These Signals XRP Price Targets 20% Recovery — Key Holders Are the Catalyst Will Pepe Coin Price Rally 50% in October? Expert Weighs In Cardano Founder: ADA Is Still a Top Crypto Despite Volatility Bitcoin (BTC) Price Prediction for October 5 Binance Does Not Comply With All Israeli Military Requests, Firm’s Financial Crime Chief Says Vitalik Buterin Spotlights Game-Changing Feature on Optimism Bitcoin Price Pumps Above $62,000 but This Viral Meme Coin Skyrockets 25%: Weekend Watch Is DeFi ready for mass adoption, or will regulation slow it down? Ethereum’s lowered yield might signal a paradigmatic shift in the ecosystem | Opinion Bitcoin Ships Major Core 28.0 Update, What Is New? One Ethereum rival to turn $100 into $1,000 in 2025 Shiba Inu Burn Rate Rockets 1000%, SHIB Price To Hit ATH Soon? Vitalik Buterin Just Sold $341K in Meme-Coins To Support TornadoCash Developers! Experts weigh in on what a Trump or Harris presidency could mean for the crypto industry Analytics Firm Assesses the State of Bitcoin (BTC), Ethereum (ETH) and Solana Top Exchange Mentions Shiba Inu As a Star Coin Market Expert Predicts Shiba Inu Rise to $0.00005, $0.0001 and $0.0002 Avalanche (AVAX) Price Prediction: AVAX Price Eyeing $35? APT, POPCAT, and SUI remain in profit amid Bitcoin’s shaky start to October Analyst Says Cardano Price Correction Likely Not Over October Bitcoin Price Analysis: Is the Next Move Up or Down For BTC Price? POPCAT Price Surges 20%, Hits ATH: Is $5 The Next Target? Analyst Predicts Solana is Set for a 20% Drop to $121 XRP Holders Fight Growing FUD Sentiment as SEC Appeals in Ripple Case, Analysts React With Bullish XRP Predictions Bitcoin Fear & Greed Index Signals Fear: Details Expert Says It Would Be Weird if XRP Doesn’t Hit $20 This Bull Run FBI Warns About Fake Crypto Platform Stealing $30 Million $500 Million in Shiba Inu (SHIB) in 24 Hours: Something Big Coming? Crypto Prices Today Oct 5: BTC Touches $62K, AI Coins Mimic Pump, POPCAT Soars 22% EigenLayer says $5.7M hack ‘isolated’ incident, no vulnerability on protocol XRP Continues to Follow 2017 Fractal, with Target Exceeding $16 Notifi Partners with Zircuit to Enhance User Engagement US Election Takes Polymarket to All-Time High, Token Launch Rumored TON Might Dip 17% in the Coming Weeks: Key Insights to Watch Inside Dogecoin Founder Might Be “Underwhelmed and Disappointed” by Satoshi Identity Reveal Analytics Firm Assesses the State of Bitcoin (BTC), Ethereum (ETH) and Solana Altcoins Gain Traction as Crypto Market Diversifies Bitcoin Price Hits $62K As BlackRock Bets on BTC Against Weakening US Dollar Key Detail in Satoshi's Mystery Revealed by Samson Mow: 'It Just Can’t Be Coincidence' Washington State Accuses 2 Cryptocurrency Platforms of Defrauding Investors What are the costs for mining Bitcoin? Cardano (ADA) Clings to $0.35 Support, but Recovery Signals Remain Weak Analyst Reveals How Cardano Price Can Reach New Highs Here Are ETH’s Most Probable Next Targets: Ethereum Price Analysis Institutional Investors Predict Surge in Digital Asset Fund Launches, Research Finds Flare Boosts SparkDEX with New Rewards for cUSDX and WFLR Holders BitBoy Says Pay Attention to XRP, Explains Why XRP is Game Changer and Number 1 Coin Top Analyst Benjamin Cowen Issues Bitcoin Alert, Says BTC Could Plunge by Over 30% – Here’s His Timeline World Mobile Token Partners with Fireblocks to Bolster Migration Portal Security XRP Rally Never Going to Happen: Max Keiser CEX crypto: the current situation and regulation in 2024 Crypto Market Sees $80B in 24-Hour Trading Amid $77M Liquidations as Bitcoin Holds $61K XRP price falls 15% in 3 days — Will Ripple’s legal setback mark the bottom? PancakeSwap V2 Tops BNB Chain with $6.1B in Weekly Volume Elon Musk and Mark Cuban Support DOGE, Is It Time for DOGE to Moon? Similarities Between October 2023 And 2024 Suggests The Bitcoin Price May Still Experience ‘Uptober’ Senator Warren Slams Citibank's Ongoing Failures — Suggests Breaking up Citi Hamster Kombat: What’s Keeping HMSTR Price Below $0.1? 'Ancient' Bitcoin whale moves more BTC mined from 2009: Arkham Will Bitwise XRP ETF Gain Regulatory Approval? TradFi, institutional investors are spurring South Africa’s crypto boom UK Finance Publishes Report on Successful Regulated Liability Network Binance Is Playing Offense—Not Just Defense—Against Crypto Crime, Says Head of Financial Investigations PancakeSwap V2 Tops BNB Chain with $6.1B in Weekly Volume Stock Market ‘Unstoppable’ as S&P 500 Hits 43rd All-Time High This Year Despite Economic Turmoil Bitcoin Price to Recover Soon? This Popular Indicator Gives Hints Bitcoin (BTC) Price Struggles Amid Mixed Economic Signals Solana plummets after failing $161 breakoutᅳIs a bigger crash coming? How to Boost Your ‘X Empire’ Telegram Game Airdrop Before the Rewards Cutoff Will US SEC Appeal Block Bitwise XRP ETF Launch? Here’s What Will Happen If Bitcoin Respects This MVRV Ratio Support Level Bitcoin and Ethereum Dominate Layer-1 Projects by Social Engagement Shiba Inu (SHIB) Price Bounces: What Might Happen in 48 Hours? Is Solana (SOL) Price Crash Over? Toncoin (TON) Secures Death Cross Who was Len Sassaman, and why might HBO think he is Satoshi Nakamoto? JPMorgan Chase, Bank of America and Five Wall Street Giants Forecast Relentless Rally for One Asset in 2025: Report EIGEN Layer assures users infrastructure is secure after investor loses $6M in email hack Meme Coin Trader Misses A $25 Million Payout After Selling HIPPO On Sui Network Early CORVA: Want Greater Adoption Of Bitcoin? Use It To Fix Problems. October Meme Coins to Watch: Dogwifhat’s Underdog Story and More! Sui claims it resolved a major security issue affecting every blockchain Crypto Whales Bought These Altcoins in the First Week of October 2024