{"id":644235,"date":"2024-09-25T00:30:52","date_gmt":"2024-09-25T00:30:52","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=644235"},"modified":"2024-09-24T14:46:40","modified_gmt":"2024-09-24T14:46:40","slug":"bitcoin-mvrv-ratio-critical-retest-bulls-triumph","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-mvrv-ratio-critical-retest-bulls-triumph\/","title":{"rendered":"Bitcoin MVRV Ratio Is At A Critical Retest: Can Bulls Triumph?"},"content":{"rendered":"

On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) Ratio of the short-term holders is currently making a retest that could prove significant for BTC’s price.<\/p>\n

Bitcoin STH MVRV Ratio Is Retesting Its 155-Day MA Right Now<\/h2>\n

As explained by on-chain analyst Checkmate in a new post<\/a> on X, the short-term holder MVRV Ratio breaking above its 155-day moving average (MA) could lead to bullish action for Bitcoin.<\/p>\n

Related Reading: Is Altcoin Season Coming? These Two Signals Could Suggest So<\/a><\/div>\n

The MVRV Ratio<\/a> is a popular indicator that, in short, keeps track of how the value held by the BTC investors as a whole (that is, the market cap) compares against the value that they initially put in (the realized cap). When the value of this metric is greater than 1, it means the average address on the network can be assumed to be holding a net profit right now. On the other hand, it being under the threshold suggests the dominance of loss in the market.<\/p>\n

In the context of the current topic, the MVRV Ratio of only a specific segment of the sector is of interest: the short-term holders (STHs)<\/a>. The STHs include the investors who bought their coins within the past 155 days. Thus, the MVRV Ratio for this cohort tells us about the profit\/loss status of the buyers from the last five months.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin STH MVRV Ratio over the last few years:<\/p>\n

\"Bitcoin
The value of the metric appears to have been on the rise in recent days | Source: @_Checkmatey_ on X<\/a><\/figcaption><\/figure>\n

As displayed in the above graph, the Bitcoin STH MVRV Ratio has surged recently as the latest recovery rally in the cryptocurrency’s price has taken place. With this increase, the indicator has edged just above the 1 mark, implying profitability has returned for the cohort. More importantly, though, the metric is now trying to find a break above its 155-day MA. As Checkmate has highlighted in the chart, BTC has generally tended to enjoy some bullish momentum whenever the STH MVRV Ratio has crossed above this line.<\/p>\n

The last time that this type of crossover had occurred in the indicator was back in the first quarter of this year and what had followed it was the coin’s rally to a new all-time high (ATH)<\/a>.<\/p>\n

Given the precedence, it’s possible that BTC may once again see a bullish wave, should the STH MVRV Ratio manage to break beyond its 155-day MA. “If the bulls get their way, and we set a weekly higher high ~$65.3k, I’d reasonably expect an attempt to the ATH,” notes the analyst.<\/p>\n

Related Reading: Bitcoin Could Reach $108,000 To $155,000 By 2024 End, Analyst Reveals Why<\/a><\/div>\n

Checkmate also warns, however, that profit-taking from these investors could be to watch out for once the price reaches the $66,100 to $70,800 range. This is because, these investors, who don’t tend to have a strong resolve, would get into notable profits at those levels.<\/p>\n

\"Bitcoin
The Bollinger Bands of the STH MVRV Ratio | Source: @_Checkmatey_ on X<\/a><\/figcaption><\/figure>\n

BTC Price<\/h2>\n

Bitcoin has seen a jump of around 8% over the past week, which has taken its price to the $63,700 level.<\/p>\n

\"Bitcoin
Looks like the price of the coin has been heading up recently | Source: BTCUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from Dall-E, checkonchain.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) Ratio of the short-term holders is currently making a retest that could prove significant for BTC’s price. Bitcoin STH MVRV Ratio Is Retesting Its 155-Day MA Right Now As explained by on-chain analyst Checkmate in a new post on X, the short-term holder MVRV Ratio breaking above its 155-day moving average (MA) could lead to bullish action for Bitcoin. Related Reading: Is Altcoin Season Coming? These Two Signals Could Suggest So The MVRV Ratio is a popular indicator that, in short, keeps track of how the value held by the BTC investors as a whole (that is, the market cap) compares against the value that they initially put in (the realized cap). When the value of this metric is greater than 1, it means the average address on the network can be assumed to be holding a net profit right now. On the other hand, it being under the threshold suggests the dominance of loss in the market. In the context of the current topic, the MVRV Ratio of only a specific segment of the sector is of interest: the short-term holders (STHs). The STHs include the investors who bought their coins within the past 155 days. Thus, the MVRV Ratio for this cohort tells us about the profit\/loss status of the buyers from the last five months. Now, here is a chart that shows the trend in the Bitcoin STH MVRV Ratio over the last few years: As displayed in the above graph, the Bitcoin STH MVRV Ratio has surged recently as the latest recovery rally in the cryptocurrency’s price has taken place. With this increase, the indicator has edged just above the 1 mark, implying profitability has returned for the cohort. More importantly, though, the metric is now trying to find a break above its 155-day MA. As Checkmate has highlighted in the chart, BTC has generally tended to enjoy some bullish momentum whenever the STH MVRV Ratio has crossed above this line. The last time that this type of crossover had occurred in the indicator was back in the first quarter of this year and what had followed it was the coin’s rally to a new all-time high (ATH). Given the precedence, it’s possible that BTC may once again see a bullish wave, should the STH MVRV Ratio manage to break beyond its 155-day MA. “If the bulls get their way, and we set a weekly higher high ~$65.3k, I’d reasonably expect an attempt to the ATH,” notes the analyst. Related Reading: Bitcoin Could Reach $108,000 To $155,000 By 2024 End, Analyst Reveals Why Checkmate also warns, however, that profit-taking from these investors could be to watch out for once the price reaches the $66,100 to $70,800 range. This is because, these investors, who don’t tend to have a strong resolve, would get into notable profits at those levels. BTC Price Bitcoin has seen a jump of around 8% over the past week, which has taken its price to the $63,700 level. Featured image from Dall-E, checkonchain.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":644236,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,84723,86686,93087,84852,1119,78790],"class_list":["post-644235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-mvrv","tag-bitcoin-mvrv-ratio","tag-bitcoin-short-term-holder-mvrv","tag-bitcoin-short-term-holders","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin MVRV Ratio Is At A Critical Retest: Can Bulls Triumph?<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Bitcoin MVRV Ratio of the short-term holders is making a retest that could prove significant for BTC's price.\" \/>\n<meta name=\"robots\" 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Verma","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/shenyangcang.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","caption":"Keshav Verma"},"description":"Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/shenyangcang.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin MVRV Ratio Is At A Critical Retest: Can Bulls Triumph?","url":"http:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-mvrv-ratio-critical-retest-bulls-triumph\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-mvrv-ratio-critical-retest-bulls-triumph\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/09\/btc_e89ed9.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/09\/btc_e89ed9.png?fit=1792%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin mvrv","bitcoin mvrv ratio","bitcoin short-term holder mvrv","bitcoin short-term holders","btc","btcusdt"],"dateCreated":"2024-09-25T00:30:52Z","datePublished":"2024-09-25T00:30:52Z","dateModified":"2024-09-25T00:30:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin MVRV Ratio Is At A Critical Retest: Can Bulls Triumph?\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/bitcoin-news\\\/bitcoin-mvrv-ratio-critical-retest-bulls-triumph\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/bitcoin-news\\\/bitcoin-mvrv-ratio-critical-retest-bulls-triumph\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/btc_e89ed9.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/btc_e89ed9.png?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin mvrv\",\"bitcoin mvrv ratio\",\"bitcoin short-term holder mvrv\",\"bitcoin short-term holders\",\"btc\",\"btcusdt\"],\"dateCreated\":\"2024-09-25T00:30:52Z\",\"datePublished\":\"2024-09-25T00:30:52Z\",\"dateModified\":\"2024-09-25T00:30:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/09\/btc_e89ed9.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/644235"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=644235"}],"version-history":[{"count":5,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/644235\/revisions"}],"predecessor-version":[{"id":644369,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/644235\/revisions\/644369"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/644236"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=644235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=644235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=644235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}