Bitcoin's MVRV Ratio Hits Highest Since April 2022

Bitcoin's MVRV Ratio Hits Highest Since April 2022



The ratio of Bitcoin’s market value to its realized value, known as the MVRV ratio, has reached its highest point since early April 2022, suggesting that the cryptocurrency might have already established a long-term bottom.



Data from Santiment, an on-chain analytics company, shows that the MVRV ratio for Bitcoin (BTC) is now at 61.3%, a peak not seen since April 2022. Back then, Bitcoin's price hovered around $43,000, having dropped from a local high of about $48,000. The MVRV ratio measures Bitcoin’s market cap against its realized cap, the total value of all coins at their last trading price. A high MVRV ratio indicates that Bitcoin’s market value is significantly higher than its realized value, which could mean it's overvalued. On the other hand, a low MVRV ratio suggests that Bitcoin is undervalued, potentially offering a good bu


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#Bitcoin, #Blockchain, #BTC, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #MVRV, #News

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