$BTC is standing at a major decision point right now.
The MVRV ratio is hovering right around the SMA365 — currently at 2.13 vs 2.14.
Historically, a clean weekly close above this level has ignited strong mid-term rallies — but so far, it’s still undecided.
Meanwhile, Open Interest has jumped +20% in the past 20 days, now surpassing $26B.
Leverage is climbing too — meaning bigger positions, bigger risks, and bigger potential moves.
Price action update:
▫️Broke out of the falling wedge (bullish pattern)
▫️Pulling back around $94K
▫️Sellers are aggressively defending $95.7K
A daily close above resistance could send $BTC higher.
Failing that, we could see a retest of $83K–$84K.
This weekly close is crucial —
It could either confirm a bullish reversal or open the door to a deeper correction.