Despite recent geopolitical risks, Bitcoin has rebounded strongly, reclaiming the $106k level. However, the momentum shown by the MVRV Ratio appears to be stalling.
The MVRV Ratio measures Bitcoin’s market value relative to its realized (intrinsic) value — a useful gauge for identifying overvaluation. Notably, the slope and turning points of the 365DMA have historically aligned with major market cycle tops. Right now, that slope is flattening, suggesting a potential slowdown in momentum.
This doesn’t mean a downtrend is imminent. But it could signal that we are entering the late stage of the bull cycle, making it crucial to focus on capital allocation and risk management.
Historically, bull markets have often ended with explosive price surges — a “final blaze” before the peak. While tactical opportunities may remain, the long-term signals from on-chain data should not be ignored.
Written by Yonsei_dent
