The rise of Bitcoin depends on the resistance level of $95,000: Will it rise higher?
Key Points
Increased speculation in the Bitcoin market
Bitcoin price structure
Key Points
The MVRV ratio for Bitcoin is approaching a critical breakout, with leverage across the futures markets rising rapidly.
A decisive move above $95,783 could open the way for a rapid upward trend, but severe liquidation still poses a threat.
The Bitcoin [BTC] MVRV ratio has recently hovered around 2.13, slightly below the critical 365-day simple moving average (SMA365) of 2.14. This is historically a critical pivot for medium-term bullish reversals.
However, Bitcoin must achieve a confirmed weekly close above the SMA365 to validate the potential trend shift. Therefore, market participants are closely monitoring this crossover as it could signify the beginning of a stronger recovery phase.$
.