Bitcoin's Historical Bottom Signal May Have Arrived, According to CryptoQuant! "He Wasn't Wrong the Last Three Times!"

Bitcoin continues to experience fluctuations after the major crash on October ￰0￱ BTC, which is moving within a certain range, continues to search for direction, CryptoQuant analyst analyzed that a local bottom may have ￰1￱ this point, the CryptoQuant analyst noted that the Bitcoin MVRV ratio had fallen below its 365-day average, signaling a local bottom that historically precedes major price ￰2￱ BTC Market Value/Realized Value (MVRV) ratio, a measure of whether Bitcoin is overvalued, recently fell below its 365-day moving average, according to CryptoQuant analyst ￰3￱ analyst stated that this situation in the MVRV ratio indicates that BTC may be at a local bottom.

“The MVRV ratio is currently trading near 1.9, slightly below its 365-day moving average. Historically, every time the rate has fallen below the 365 SMA it has created a buying opportunity and a local bottom signal.” The analyst noted that the MVRV ratio fell below the 365-day SMA in mid-2021, June 2022, and early 2024, followed by increases of 135%, 100%, and 196%, ￰4￱ analyst stated that this situation was considered a buying opportunity and a local bottom signal at the time, reminding that the model is consistent and that it gives the same signal now. “If this metric starts to turn upwards from current levels, it could confirm that the recent sell-off was a cyclical bottom formation, which could support a renewed bullish period in the fourth quarter,” the analyst ￰5￱ to the analyst's Bitcoin MVRV analysis, if history repeats itself, the Bitcoin price may enter a period of recovery and rise. *This is not investment ￰6￱ Reading: Bitcoin's Historical Bottom Signal May Have Arrived, According to CryptoQuant!

"He Wasn't Wrong the Last Three Times!"