Bitcoin’s Adjusted MVRV Ratio Enters Bull-Market Range at 1.018
The indicator crossed above 1.0 on Sept. 20 and reached 1.018 on Sept. 26 as Bitcoin traded at $84,156.
Bitcoin (BTC) entered a bull-market phase after its adjusted MVRV ratio moved above 1.0, reaching 1.018 on Sept. 26 as the cryptocurrency traded at $84,156.
The ratio first signaled an early bull-market phase on Aug. 20, when its 30-day moving average crossed above its 365-day moving average. Bitcoin traded at $71,255 at the time.
The indicator then moved above the 1.0 benchmark on Sept. 20, with Bitcoin trading at $80,691. The move represented the sixth transition from an early bull-market phase to a bull-market phase since 2012.
The adjusted MVRV ratio’s bullish structure remains intact while it stays above 1.0. The indicator’s latest move follows an earlier Bitcoin cost-basis crossover that marked a prior bull-market signal.
