Bitcoin MVRV Ratio Hints at ‘Balanced’ Price, but Is a BTC Rally Imminent?

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.