{"id":646329,"date":"2024-10-05T01:00:24","date_gmt":"2024-10-05T01:00:24","guid":{"rendered":"https:\/\/ktsl888.com\/?p=646329"},"modified":"2024-10-04T18:22:57","modified_gmt":"2024-10-04T18:22:57","slug":"heres-what-will-happen-if-bitcoin-respects-this-mvrv-ratio-support-level","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/bitcoin-news\/heres-what-will-happen-if-bitcoin-respects-this-mvrv-ratio-support-level\/","title":{"rendered":"Here\u2019s What Will Happen If Bitcoin Respects This MVRV Ratio Support Level"},"content":{"rendered":"<p data-pm-slice=\"1 1 []\">A CryptoQuant analyst using the pseudonym &#8220;tugbachain&#8221; has recently <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/66ff8602c1ff132140ab3c5d-MVRV-Ratio-and-Its-Implications-Could-a-Break-of-the-Downtrend-Signal-Another-Bi\" target=\"_blank\" rel=\"noopener nofollow\">shed light<\/a> on a key trend within the Bitcoin market. Posting on the CryptoQuant QuickTake platform, the analyst focused on the Market Value to Realized Value (MVRV) ratio, an important metric in the Bitcoin market.<\/p>\n<p data-pm-slice=\"1 1 []\">According to tugbachain, the MVRV ratio shows a historical downward trend. Should this trend continue or get breached, it may lead to a <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/\" target=\"_blank\" rel=\"noopener \">major impact<\/a> on Bitcoin.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-nvt-cross-signals-a-local-top-is-a-major-correction-looming\/\">Bitcoin\u2019s NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming?<\/a><\/div>\n<h2 data-pm-slice=\"1 1 []\">MVRV Ratio And Its Impending Impact On Bitcoin<\/h2>\n<p data-pm-slice=\"1 1 []\">The MVRV ratio, as explained by tugbachain, is a tool used to gauge whether a cryptocurrency is overvalued or undervalued. This ratio is calculated by comparing the market value to the realized value of Bitcoin, providing insights into investor behavior and market trends.<\/p>\n<p data-pm-slice=\"1 1 []\">The analyst highlighted that the MVRV has proven useful in identifying market tops, bottoms, and notable peaks and troughs over the years. The MVRV ratio has historically demonstrated three major Bitcoin halving cycles, each marked by <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/analysts-unfazed-by-bitcoin-btc-drop-but-should-we-fear-october-5\/\" target=\"_blank\" rel=\"noopener \">unique price behavior<\/a> and investor sentiment.<\/p>\n<p data-pm-slice=\"1 1 []\">The current ratio sits around 1.9, with significant support noted at 1.75. The question raised by tugbachain is whether breaking the downtrend could lead to a rise in the MVRV ratio to the 4-6 range, which has historically signaled a Bitcoin peak.<\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/368746\/quicktake\/01rqrzU_6570632e06beb477e4dd0dbfbcb81c431177675ba13001e278ad67a324374e1f.png?resize=1280%2C720&#038;ssl=1\" alt=\"Bitcoin MVRV ratio. \" width=\"1280\" height=\"720\"><figcaption class=\"wp-caption-text\">Bitcoin MVRV ratio. | Source: CryptoQuant<\/figcaption><\/figure>\n<p data-pm-slice=\"1 1 []\">The analyst wrote in the post:<\/p>\n<blockquote><p>Currently, the MVRV ratio shows a historical downtrend with significant support at 1.75. With the ratio now sitting at 1.9, the question arises: if it breaks the downtrend and reverses the downtrend, could it once again climb to the 4-6 range, marking a Bitcoin peak as seen in previous cycles?<\/p><\/blockquote>\n<h2>BTC Market Performance And Technical Outlook<\/h2>\n<p data-pm-slice=\"1 1 []\">Bitcoin has seen heightened price activity in recent weeks in the broader market context. The asset rallied above $66,000 last week, sparking enthusiasm in the crypto community with hopes for a <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-starts-october-red\/\" target=\"_blank\" rel=\"noopener \">bullish October<\/a>, playfully termed &#8220;<a href=\"https:\/\/ktsl888.com\/news\/uptober-is-just-around-the-corner-heres-where-bitcoin-price-is-headed\/\" target=\"_blank\" rel=\"noopener \">Uptober<\/a>.&#8221;<\/p>\n<p data-pm-slice=\"1 1 []\">However, this upward momentum was short-lived, as BTC experienced a notable price correction soon after. Within the past week alone, Bitcoin has seen a decline of around 7.2%, falling to a trading price of $61,496 at the time of writing.<\/p>\n<p data-pm-slice=\"1 1 []\">Despite this correction, BTC has rebounded slightly, posting a<a href=\"https:\/\/ktsl888.com\/bitcoin-news\/here-is-why-the-bitcoin-bull-run-hasnt-started-according-to-analyst\/\" target=\"_blank\" rel=\"noopener \"> modest 1.9% gain<\/a> over the past 24 hours. Aside from tugbachain\u2019s analysis, other crypto market analysts have provided additional perspectives on the MVRV ratio&#8217;s implications for BTC.<\/p>\n<p data-pm-slice=\"1 1 []\">Ali, a prominent analyst on the social media platform X, has <a href=\"https:\/\/x.com\/ali_charts\/status\/29282091\" target=\"_blank\" rel=\"noopener nofollow\">pointed out<\/a> that the MVRV ratio&#8217;s behavior since May has notably impacted Bitcoin&#8217;s price movements.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/here-is-why-the-bitcoin-bull-run-hasnt-started-according-to-analyst\/\" target=\"_blank\" rel=\"noopener \">Here Is Why The Bitcoin Bull Run Hasn\u2019t Started, According To Analyst<\/a><\/div>\n<p data-pm-slice=\"1 1 []\">Ali observed that each rejection of the MVRV ratio from its 90-day average has historically led to a significant correction in Bitcoin&#8217;s price. According to Ali, the latest rejection has already resulted in a 10% drop, suggesting the possibility of further downside pressure.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/DT9IjASr\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">BTC price is moving upwards on the 2-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=TSE%3A3350\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p data-pm-slice=\"1 1 []\">Featured image created with DALL-E, Chart From TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A CryptoQuant analyst using the pseudonym &#8220;tugbachain&#8221; has recently shed light on a key trend within the Bitcoin market. Posting on the CryptoQuant QuickTake platform, the analyst focused on the Market Value to Realized Value (MVRV) ratio, an important metric in the Bitcoin market. According to tugbachain, the MVRV ratio shows a historical downward trend. Should this trend continue or get breached, it may lead to a major impact on Bitcoin. Related Reading: Bitcoin\u2019s NVT Cross Signals a Local Top \u2013 Is a Major Correction Looming? MVRV Ratio And Its Impending Impact On Bitcoin The MVRV ratio, as explained by tugbachain, is a tool used to gauge whether a cryptocurrency is overvalued or undervalued. This ratio is calculated by comparing the market value to the realized value of Bitcoin, providing insights into investor behavior and market trends. The analyst highlighted that the MVRV has proven useful in identifying market tops, bottoms, and notable peaks and troughs over the years. The MVRV ratio has historically demonstrated three major Bitcoin halving cycles, each marked by unique price behavior and investor sentiment. The current ratio sits around 1.9, with significant support noted at 1.75. The question raised by tugbachain is whether breaking the downtrend could lead to a rise in the MVRV ratio to the 4-6 range, which has historically signaled a Bitcoin peak. The analyst wrote in the post: Currently, the MVRV ratio shows a historical downtrend with significant support at 1.75. With the ratio now sitting at 1.9, the question arises: if it breaks the downtrend and reverses the downtrend, could it once again climb to the 4-6 range, marking a Bitcoin peak as seen in previous cycles? BTC Market Performance And Technical Outlook Bitcoin has seen heightened price activity in recent weeks in the broader market context. The asset rallied above $66,000 last week, sparking enthusiasm in the crypto community with hopes for a bullish October, playfully termed &#8220;Uptober.&#8221; However, this upward momentum was short-lived, as BTC experienced a notable price correction soon after. Within the past week alone, Bitcoin has seen a decline of around 7.2%, falling to a trading price of $61,496 at the time of writing. Despite this correction, BTC has rebounded slightly, posting a modest 1.9% gain over the past 24 hours. Aside from tugbachain\u2019s analysis, other crypto market analysts have provided additional perspectives on the MVRV ratio&#8217;s implications for BTC. Ali, a prominent analyst on the social media platform X, has pointed out that the MVRV ratio&#8217;s behavior since May has notably impacted Bitcoin&#8217;s price movements. Related Reading: Here Is Why The Bitcoin Bull Run Hasn\u2019t Started, According To Analyst Ali observed that each rejection of the MVRV ratio from its 90-day average has historically led to a significant correction in Bitcoin&#8217;s price. According to Ali, the latest rejection has already resulted in a 10% drop, suggesting the possibility of further downside pressure. Featured image created with DALL-E, Chart From TradingView<\/p>\n","protected":false},"author":580,"featured_media":646330,"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":[428,441,629,1119,89379,78790,6664,10923],"class_list":["post-646329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-btc","tag-btc-market","tag-btcusdt","tag-crypto","tag-crypto-market"],"acf":[],"yoast_head":"\n<title>Here\u2019s What Will Happen If Bitcoin Respects This MVRV Ratio Support Level<\/title>\n<meta name=\"description\" content=\"A CryptoQuant analyst using the pseudonym &quot;tugbachain&quot; has recently shed light on a key trend within the Bitcoin market. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Here\u2019s What Will Happen If Bitcoin Respects This MVRV Ratio Support Level","description":"A CryptoQuant analyst using the pseudonym \"tugbachain\" has recently shed light on a key trend within the Bitcoin market. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Here\u2019s What Will Happen If Bitcoin Respects This MVRV Ratio Support Level","url":"http:\/\/ktsl888.com\/bitcoin-news\/heres-what-will-happen-if-bitcoin-respects-this-mvrv-ratio-support-level\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/bitcoin-news\/heres-what-will-happen-if-bitcoin-respects-this-mvrv-ratio-support-level\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-04-17.04.51-A-digital-illustration-depicting-the-potential-impact-of-Bitcoin-respecting-its-MVRV-Market-Value-to-Realized-Value-ratio-support-level.-The-image-f.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-04-17.04.51-A-digital-illustration-depicting-the-potential-impact-of-Bitcoin-respecting-its-MVRV-Market-Value-to-Realized-Value-ratio-support-level.-The-image-f.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin analysis","bitcoin market","btc","btc market","btcusdt","crypto","crypto market"],"dateCreated":"2024-10-05T01:00:24Z","datePublished":"2024-10-05T01:00:24Z","dateModified":"2024-10-05T01:00:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Here\\u2019s What Will Happen If Bitcoin Respects This MVRV Ratio Support Level\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/heres-what-will-happen-if-bitcoin-respects-this-mvrv-ratio-support-level\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/heres-what-will-happen-if-bitcoin-respects-this-mvrv-ratio-support-level\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/DALL\\u00b7E-2024-10-04-17.04.51-A-digital-illustration-depicting-the-potential-impact-of-Bitcoin-respecting-its-MVRV-Market-Value-to-Realized-Value-ratio-support-level.-The-image-f.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/DALL\\u00b7E-2024-10-04-17.04.51-A-digital-illustration-depicting-the-potential-impact-of-Bitcoin-respecting-its-MVRV-Market-Value-to-Realized-Value-ratio-support-level.-The-image-f.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin market\",\"btc\",\"btc market\",\"btcusdt\",\"crypto\",\"crypto market\"],\"dateCreated\":\"2024-10-05T01:00:24Z\",\"datePublished\":\"2024-10-05T01:00:24Z\",\"dateModified\":\"2024-10-05T01:00:24Z\"}<\/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\/10\/DALL\u00b7E-2024-10-04-17.04.51-A-digital-illustration-depicting-the-potential-impact-of-Bitcoin-respecting-its-MVRV-Market-Value-to-Realized-Value-ratio-support-level.-The-image-f.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/646329"}],"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\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=646329"}],"version-history":[{"count":3,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/646329\/revisions"}],"predecessor-version":[{"id":646348,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/646329\/revisions\/646348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/646330"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=646329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=646329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=646329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}