Bitcoin MVRV Ratio Hits 2022 Low, Signaling Market Bottom
CryptoNewsTerminal Staff12 Aug, 2024
Bitcoin MVRV Ratio Hits 2022 Low, Signaling Market Bottom
According to a recent weekly report by Bitfinex, the Market Value to Realized Value (MVRV) ratio of short-term Bitcoin (BTC) investors has fallen to 0.84. This indicates that short-term investors are experiencing their largest unrealized losses since the 2022 bear market, a signal that the market bottom may be near. In addition to the MVRV ratio, other factors supporting the view that the crypto market may be poised for a recovery include signs of the US Federal Reserve beginning to pivot on interest rate hikes, as well as positive macroeconomic indicators and the upcoming US presidential election.
