Markets News COINTELEGRAPH IN YOUR SOCIAL FEEDsaid in a Feb. 26 X post.

The last time Bitcoin’s MVRV reached this level was in April 2021, when Bitcoin tapped $58,253 — representing approximately a 101% gain from its $28,994 price at the start of 2021.

The MVRV will “spike vertically” at market top

“We aren’t there yet,” Chapo said. The MVRV signals whether Bitcoin (BTC) is overvalued or undervalued based on the ratio between its market capitalization and realized capitalization.

At the time of publication, Bitcoin’s MVRV is 1.95, as per Bitbo data, while Bitcoin is trading at $84,416, as per CoinMarketCap data.

Bitcoin’s MVRV is 1.95 at the time of publication. Source: Bitbo

Bitcoin dropped below $90,000 on

Keep reading this article on Cointelegraph.com.

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