Bitcoin's MVRV Approaches an Important Threshold
The 7-day MVRV index (market value to realized value ratio) has meanwhile reached 2.38%, recovering from a recent low of -8.44% recorded on March eighth.
This recovery indicates that short-term holders are starting to make small profits. However, historical data suggests that more significant growth usually begins when this indicator exceeds 5%.
Currently, BTC is still in a transitional phase. Sentiments are changing, but a full transition to a bullish scenario has not yet occurred.#BTC
