A death cross has emerged on the Bitcoin (BTC) MVRV daily chart, signaling potential downward pressure. This bearish pattern occurs when the 30-day moving average (DMA) dips below the 365-day DMA, indicating a shift in momentum. CryptoQuant analyst Yonsei_dent highlights the MVRV ratio as a crucial on-chain indicator, comparing Bitcoin's market cap to its realized value to gauge overvaluation or undervaluation. The recent death cross suggests a weakening short-term trend and increasing selling pressure. While the MVRV ratio is approaching its long-term average, indicating a move away from overbought conditions, a definitive bottom hasn't been established. Given Bitcoin's historical correction patterns, caution is advised, and further price declines remain a possibility. Investors should closely monitor MVRV and other on-chain metrics for confirmation of a market bottom before making significant investment decisions. ```

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