$BTC $ETH $BTC
𝗕𝗶𝘁𝗰𝗼𝗶𝗻’𝘀 on-chain structure just changed.
Glassnode shows BTC’s MVRV ratio has crossed back above its 365-day moving average.
The same type of crossover appeared around the early stages of the 2019 and 2023 market recoveries.
But the signal isn’t “bull market confirmed.”
It is more interesting than that.
MVRV measures the relationship between Bitcoin’s market value and the realized value of its supply. When MVRV moves above its 1-year trend, it suggests the market is transitioning from a prolonged period of weaker valuation momentum toward a more constructive regime.
That makes the current crossover worth watching.
𝗧𝗵𝗲 𝗿𝗲𝗮𝗹 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻:
Can Bitcoin sustain this momentum above the 365-day trend?
If it can, the current cycle structure becomes increasingly comparable to the transition phases seen in 2019 and 2023.
Historical similarity is a signal.
It is not a guarantee.
#BTC Price Analysis# #Macro Insights#
𝗕𝗶𝘁𝗰𝗼𝗶𝗻’𝘀 on-chain structure just changed.
Glassnode shows BTC’s MVRV ratio has crossed back above its 365-day moving average.
The same type of crossover appeared around the early stages of the 2019 and 2023 market recoveries.
But the signal isn’t “bull market confirmed.”
It is more interesting than that.
MVRV measures the relationship between Bitcoin’s market value and the realized value of its supply. When MVRV moves above its 1-year trend, it suggests the market is transitioning from a prolonged period of weaker valuation momentum toward a more constructive regime.
That makes the current crossover worth watching.
𝗧𝗵𝗲 𝗿𝗲𝗮𝗹 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻:
Can Bitcoin sustain this momentum above the 365-day trend?
If it can, the current cycle structure becomes increasingly comparable to the transition phases seen in 2019 and 2023.
Historical similarity is a signal.
It is not a guarantee.
#BTC Price Analysis# #Macro Insights#
