Here’s the key level Bitcoin must hold to claim $130,000 as ‘peak euphoria’ looms
Main Idea
Bitcoin (BTC) could potentially reach $130,000 if it maintains support above $110,000, with current market indicators suggesting room for further growth despite modest capital inflows.
Key Points
1. The Market Value to Realized Value (MVRV) model indicates Bitcoin could reach $130,000 if it stays above the $110,000 support level.
2. Bitcoin is currently trading around $118,000, showing signs of sustained growth with key moving averages supporting the uptrend.
3. Capital inflows into the crypto market remain modest at around $82 billion, below the $135 billion peak in December 2024, suggesting investor sentiment hasn't overheated yet.
4. The 14-day Relative Strength Index (RSI) stands at 60.43, indicating a balanced market without extreme overbought conditions.
5. Bitcoin's price is consolidating at $118,318, up 0.8% on the day but down 0.13% over the past week.
Description
Bitcoin ( BTC ) could still reach the $130,000 mark, with the Market Value to Realized Value (MVRV) Extreme Deviation Pricing Bands highlighting a crucial range to watch for this milestone. According to on-chain analytics platform Glassnode , the metric suggests that as long as Bitcoin holds above the $110,000 support level, there is room for a renewed push toward an all-time high. Currently trading around $118,000, Bitcoin remains in a zone of growing optimism, but it has not yet reached the eu...
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