Bitcoin's MVRV Ratio Drops to 1.1 as Price Plummets to $60,000

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 3 days ago

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Increased Market Volatility: Bitcoin's price has sharply declined from $80,000 to $60,000, causing heightened unease among investors and significant market volatility, reflecting a short-term market dominated by sellers, which could impact investor confidence.
Critical Valuation Ratio: Bitcoin's Market Value to Realized Value (MVRV) ratio has dropped to 1.1, nearing historically undervalued territory; while this level often signals market bottoms, it does not guarantee that a bottom has been reached, necessitating caution among investors.
Bearish Technical Indicators: Bitcoin has slipped below its 50-day, 100-day, and 200-day moving averages, indicating persistent selling pressure, and the Relative Strength Index (RSI) has fallen to 27, suggesting the market may be oversold, with similar past readings occasionally leading to brief relief rallies.
Surge in Trading Volume: Amid the recent price decline, trading volumes have surged significantly, indicating a potential broad capitulation event; historically, major selloffs often precede durable bottoms, although current market uncertainty remains high.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	50332.489	54731.7	58717.579	63116.79	67102.669	71501.88	75487.759
Fibonacci	54731.7	57934.804	59913.685	63116.79	66319.894	68298.775	71501.88

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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