Bitcoin MVRV Ratio Hints at ‘Balanced’ Price, but Is a BTC Rally Imminent?
Main Idea
Bitcoin's MVRV ratio and whale accumulation suggest a potential price rally, with key indicators pointing to a balanced market and possible breakout.
Key Points
1. Whales holding 10–10K BTC have accumulated over 218,000 BTC since March, now controlling more than 68% of Bitcoin’s total supply.
2. The MVRV ratio is rising and nearing its 365-day moving average, historically signaling a pre-bull run phase.
3. Bollinger Bands are tightening, indicating an upcoming breakout, with key resistance near $120,000 and support at $118,300.
4. The Relative Strength Index (RSI) is at 59.13, showing moderate strength without being overbought, while the MACD shows a slight bearish crossover.
5. A break above $120,000 could lead to a rally into the $125,000 to $130,000 range, while a drop below $116,750 may stall bullish momentum.
Description
Whales holding 10–10K BTC have accumulated over 218,000 BTC since March. The MVRV ratio is rising and nearing its 365-day moving average. Bollinger Bands are tightening, hinting at an upcoming breakout. If you’re looking at the Bitcoin price and notice sideways market, you’re only seeing half the picture. Beneath the surface, a combination of on-chain accumulation and technical consolidation suggests a major breakout above $120,000 is to happen soon. That is because the market has clearly entere...
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