📉 MVRV indicator indicates the end of the current growth phase for $BTC

The MVRV indicator does not yet signal a bitcoin price reversal, but the current growth phase is probably coming to an end.

"Despite geopolitical risks, bitcoin has recovered strongly and returned to levels above $106,000. However, the momentum shown by the MVRV ratio has started to weaken," CryptoQuant noted.

The MVRV indicator reflects the ratio of bitcoin's market value to its realized capitalization. It helps determine how much the asset may be overvalued.

"Historically, the direction and reversals of the 365-day moving average MVRV coincided with the peaks of market cycles. Now the slope is flattening out - this could indicate weakening momentum" - CryptoQuant analyst

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