Bitcoin’s MVRV ratio indicated that BTC was forming a potential local bottom, suggesting that the price can recover due to seller exhaustion.
Key takeaways:
Bitcoin’s MVRV ratio dropping to the 1.8-2.0 range signals a local bottom, historically preceding price rallies.
Distress-driven selling may clear leverage, setting the stage for a market reversal, according to analysis.
Burnley take on Chelsea this coming Saturday in the Premier League. Read our in-depth preview here
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