A rare bullish signal has been confirmed, and according to Matrixport analysts, momentum for Bitcoin is making a comeback.
They highlight one of the most reliable on-chain indicators on their chart: the Market Value to Realized Value ratio (MVRV). Unlike traditional metrics, this one is grounded in blockchain data, offering a clearer view of actual market demand and fair value. The MVRV has now moved back into positive territory — a shift that has historically marked the beginning of strong upward trends.
What makes this even more notable is how quickly the indicator reversed — within just a few weeks, something that rarely happens. The last time we saw a similar move was in 2020, just before the major bull cycle kicked off.
Their takeaway? “If momentum holds, $BTC
could be on track for new all-time highs.”
It’s worth recalling that just last week, Matrixport mentioned they expect Bitcoin’s quiet climb to potentially explode into a full-blown rally in June.