Bitcoin 365-Day MVRV is One of the Most Bullish Signals to Watch!
📊 According to MVRV data, which indicates who overvalued or undervalued an asset is compared to its normal 'zero sum game', Bitcoin's long-term returns on the blockchain are about level with what we saw in the final week of 2022.
📈 When the 365-day MVRV was severely negative following the FTX collapse, $BTC proceeded to rise +67% in the following 3 months. This is typical when average returns are significantly below the average value for what is historically expected.
🤔 Obviously, circumstances are very different compared to what we saw more than 3 years ago. Macroeconomic news and polarized opinions about Strategy's aggressive accumulation have been changing the landscape of cryptocurrency.
👀 But MVRV data consistently will hint at where prices go next, regardless of the world's circumstances. When this powerful indicator reveals a divergence we haven't seen in over 3 years, pay attention.