Bitcoin Trades Below ETF Cost-Basis As MVRV Signals Mounting Pressure
The middle of January marked the continuation of an already struggling price action for Bitcoin, as it took on another sharp downtrend. Early into February, the flagship cryptocurrency seemed to be on a free-fall, even breaching important psychological price levels as it crashed. One of these levels is the cost basis of one of Bitcoin’s most influential investor cohorts – the Bitcoin ETF investors. Data from a recent on-chain evaluation reveals that Bitcoin has since traded underneath this price, and has continued to meet investors with growing heat. Related Reading: Bithumb....
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Over the past two weeks, the Bitcoin market saw an overwhelming sellers’ dominance, with no significant input from the bulls influencing the price. As the flagship cryptocurrency slipped into a downturn, investors increasingly fled the market out of fear, further pushing prices downwards. However, as the Bitcoin price seems to have found stability, an interesting on-chain revelation has also surfaced. If this change proves sustainable, it could mean something positive for the world’s leading cryptocurrency. Related Reading: Bitcoin Trades Below ETF Cost-Basis As MVRV Signals....
The on-chain analytics firm Santiment has revealed that Dogecoin and Cardano are two assets that look “very bullish” according to this metric. Dogecoin & Cardano Currently Have Low 30-Day MVRV Ratios In a new post on X, Santiment has discussed about how some of the top assets in the cryptocurrency sector are looking like right now in terms of the Market Value to Realized Value (MVRV) Ratio. The MVRV Ratio is a popular on-chain indicator that keeps track of the ratio between the market cap and realized cap for any given coin. The market cap here naturally refers to the simple....
ARK argues that bearish continuation has limited room left to run, as on-chain indicators bottom out. Bitcoin (BTC) has a “neutral to positive” outlook despite staying below $20,000, according to ARK Investment Management.In its latest "Bitcoin Monthly" report, the American asset management giant flagged signs that BTC price action is close to bottoming.Wood: "We're waiting for more capitulation signals"One of Bitcoin’s most vocal supporters, ARK and CEO, Cathie Wood, have stuck with BTC exposure as the market continues to fall from all-time highs.The latest Bitcoin Monthly release....
On-chain data shows that a Chainlink indicator is currently forming a pattern that has led to an average 50% increase for LINK in the past. Chainlink 30-Day MVRV Ratio Has Plunged In a new post on X, analyst Ali discussed the latest trend in Chainlink’s 30-day MVRV ratio. The “Market Value to Realized Value (MVRV) ratio” is a popular on-chain indicator that tracks the ratio between LINK’s market cap and realized cap. The market cap naturally refers to the total valuation of the asset’s circulating supply at the current spot price. In contrast, the realized cap....
Bitcoin’s latest market pullback has pushed its MVRV ratio back into a critical zone that has historically been associated with macro correction lows and early-stage recovery setups. The MVRV metric now reflects a valuation reset similar to the conditions that preceded major rebound phases in prior cycles. Why The Reset Reinforces Bitcoin Value Proposition The crypto bearish performance echoes through the Bitcoin community as the Market Value to Realized Value (MVRV) ratio dips into the critical 1.8 to 2.0 range, a zone significant for past cycle corrections where BTC found its....