{"id":628432,"date":"2024-07-09T04:00:09","date_gmt":"2024-07-09T04:00:09","guid":{"rendered":"https:\/\/ktsl888.com\/?p=628432"},"modified":"2024-07-08T18:06:06","modified_gmt":"2024-07-08T18:06:06","slug":"bitcoin-mvrv-ratio-make-break-test-support-hold","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-mvrv-ratio-make-break-test-support-hold\/","title":{"rendered":"Bitcoin MVRV Ratio At Make-Or-Break Test: Will Support Hold?"},"content":{"rendered":"

On-chain data shows that the Bitcoin Market Value to Realized Value (MVRV) ratio is doing a retest that has historically been significant for BTC.<\/p>\n

Bitcoin MVRV Ratio Is Retesting Its 365-Day SMA Right Now<\/h2>\n

As explained by an analyst in a CryptoQuant Quicktake post<\/a>, the Bitcoin MVRV ratio is retesting a level that has acted as an important psychological level in the past.<\/p>\n

The “MVRV ratio<\/a>” here refers to a popular on-chain indicator that, in short, compares the value that the investors are holding (that is, the market cap) against what they used to purchase the cryptocurrency (the realized cap<\/a>).<\/p>\n

When the value of this metric is greater than 1, it means the investors can be considered to be in profit right now. Tops can become more likely to form the higher the ratio above this mark, as holders become increasingly tempted to harvest their gains.<\/p>\n

Related Reading: Bitcoin \u2018Extreme Greed\u2019 Is Almost Here: Price Bottom Now Close?<\/a><\/div>\n

On the other hand, the indicator being under the level implies the dominance of losses in the market. Bottoms can be probable in this zone, as sellers become exhausted here.<\/p>\n

Naturally, the MVRV ratio is exactly equal to 1 suggests the investors are holding profits and losses in equal parts, so the average holder could be assumed to be just breaking even on their investment.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin MVRV ratio, as well as its 365-day simple moving average (SMA), over the last few years:<\/p>\n

\"Bitcoin
Looks like the value of the indicator has been heading down in recent days | Source: CryptoQuant<\/a><\/figcaption><\/figure>\n

As displayed in the above graph, the Bitcoin MVRV ratio has been observing a decline since the price all-time high (ATH)<\/a> set back in March. This trend is because BTC has been riding on bearish momentum since then.<\/p>\n

Investor profits, which had once ballooned to relatively high levels due to the rally, have taken a sizable hit because of the price drop. However, holders are still very much in gains, as the metric’s value is around 1.8 right now.<\/p>\n

The chart shows that this is around the same level that the indicator’s 365-day SMA has been floating around recently. Historically, this SMA has acted as an important level for the indicator, sometimes taking the role of support during bullish trends.<\/p>\n

The MVRV ratio crossing below this line has often meant a transition towards a bearish trend for Bitcoin. As such, this current retest between the indicator and the line can be significant for the cryptocurrency.<\/p>\n

Related Reading: Social Media Screams \u201cSell\u201d As Bitcoin Crashes To $54,000: Buy Signal?<\/a><\/div>\n

It remains to be seen if this support level holds or if the metric will drop below it, potentially leading to an extended bearish period for BTC.<\/p>\n

BTC Price<\/h2>\n

Bitcoin has only slightly recovered from its latest crash so far, as its price is trading around $56,900.<\/p>\n

\"Bitcoin
The price of the coin seems to have overall been stuck in consolidation recently | Source: BTCUSD on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

On-chain data shows that the Bitcoin Market Value to Realized Value (MVRV) ratio is doing a retest that has historically been significant for BTC. Bitcoin MVRV Ratio Is Retesting Its 365-Day SMA Right Now As explained by an analyst in a CryptoQuant Quicktake post, the Bitcoin MVRV ratio is retesting a level that has acted as an important psychological level in the past. The “MVRV ratio” here refers to a popular on-chain indicator that, in short, compares the value that the investors are holding (that is, the market cap) against what they used to purchase the cryptocurrency (the realized cap). When the value of this metric is greater than 1, it means the investors can be considered to be in profit right now. Tops can become more likely to form the higher the ratio above this mark, as holders become increasingly tempted to harvest their gains. Related Reading: Bitcoin \u2018Extreme Greed\u2019 Is Almost Here: Price Bottom Now Close? On the other hand, the indicator being under the level implies the dominance of losses in the market. Bottoms can be probable in this zone, as sellers become exhausted here. Naturally, the MVRV ratio is exactly equal to 1 suggests the investors are holding profits and losses in equal parts, so the average holder could be assumed to be just breaking even on their investment. Now, here is a chart that shows the trend in the Bitcoin MVRV ratio, as well as its 365-day simple moving average (SMA), over the last few years: As displayed in the above graph, the Bitcoin MVRV ratio has been observing a decline since the price all-time high (ATH) set back in March. This trend is because BTC has been riding on bearish momentum since then. Investor profits, which had once ballooned to relatively high levels due to the rally, have taken a sizable hit because of the price drop. However, holders are still very much in gains, as the metric’s value is around 1.8 right now. The chart shows that this is around the same level that the indicator’s 365-day SMA has been floating around recently. Historically, this SMA has acted as an important level for the indicator, sometimes taking the role of support during bullish trends. The MVRV ratio crossing below this line has often meant a transition towards a bearish trend for Bitcoin. As such, this current retest between the indicator and the line can be significant for the cryptocurrency. Related Reading: Social Media Screams \u201cSell\u201d As Bitcoin Crashes To $54,000: Buy Signal? It remains to be seen if this support level holds or if the metric will drop below it, potentially leading to an extended bearish period for BTC. BTC Price Bitcoin has only slightly recovered from its latest crash so far, as its price is trading around $56,900. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":628449,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,506,84723,86686,86576,748,1119,1144],"class_list":["post-628432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-crash","tag-bitcoin-mvrv","tag-bitcoin-mvrv-ratio","tag-bitcoin-retest","tag-bitcoin-support","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin MVRV Ratio At Make-Or-Break Test: Will Support Hold?<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin Market Value to Realized Value (MVRV) ratio is currently doing a retest that has historically been significant for BTC.\" \/>\n<meta name=\"robots\" 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Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin MVRV Ratio At Make-Or-Break Test: Will Support Hold?","url":"http:\/\/ktsl888.com\/bitcoin-news\/bitcoin-mvrv-ratio-make-break-test-support-hold\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/bitcoin-news\/bitcoin-mvrv-ratio-make-break-test-support-hold\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/btc_12271d.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/btc_12271d.png?fit=1792%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin crash","bitcoin mvrv","bitcoin mvrv ratio","bitcoin retest","bitcoin support","btc","btcusd"],"dateCreated":"2024-07-09T04:00:09Z","datePublished":"2024-07-09T04:00:09Z","dateModified":"2024-07-09T04:00:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin MVRV Ratio At Make-Or-Break Test: Will Support Hold?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/bitcoin-mvrv-ratio-make-break-test-support-hold\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/bitcoin-mvrv-ratio-make-break-test-support-hold\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/btc_12271d.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/btc_12271d.png?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin crash\",\"bitcoin mvrv\",\"bitcoin mvrv ratio\",\"bitcoin retest\",\"bitcoin support\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-07-09T04:00:09Z\",\"datePublished\":\"2024-07-09T04:00:09Z\",\"dateModified\":\"2024-07-09T04:00:09Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/btc_12271d.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/628432"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=628432"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/628432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/628449"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=628432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=628432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=628432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}