Bitcoin [BTC]: Are global markets entering a liquidity cycle? If so, this is how BTC will react

Bitcoin shows signs of positivity as MVRV ratio reaches new highs. But traders remain skeptical of Bitcoin's growth.

In January 2023, the MVRV ratio for Bitcoin broke the 1.5 level, indicating the start of a bull market. The MVRV ratio was fluctuating between 1.55 and 1.45 at press time, with large investors monitoring it closely to buy discounted Bitcoins during dips.

The analysis also showed that the 365DSMA should be taken into consideration as well, with the MVRV ratio breaking it to signal a trend change. If Bitcoin’s MVRV ratio breaks the 1.5 level again, it’s likely to shift to a range of values between 1.8 and 2, that is if BTC price reaches 30K.Despite all these bullish signs, traders continued to remain cynical about BTC’s growth. Based on data from TheBlock, the Put to Call ratio for Bitcoin has experienced a significant increase over recent months.

This suggested that a large number of traders have taken positions betting on a potential future decrease in BTC’s market price.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin: Why Uncle Sam’s latest move could mean trouble for BTC minersThe DAME excise tax will reportedly target institutions engaged in crypto mining. This means Bitcoin’s hash rate may drop significantly if the new tax pushes such companies to a corner.
Read more »

Decoding the not so obvious reason behind Bitcoin [BTC] logging heavy network trafficWith the Taproot upgrade, Bitcoin positioned itself like other conventional layer-1 blockchains, enabling deployment of smart contracts on the chain and minting of Ordinals NFTs.
Read more »

Bitcoin traders ought to know this before making their next trade decisionBitcoin's reaction to the FOMC meeting could be considered as neutral but as per an analysis from CryptoQuant, BTC could be displaying signs of a bullish wave on the basis of its MVRV ratio.
Read more »

Is Bitcoin [BTC] mining still profitable? Refer to this data for an answerAn increase in fees generated on the Bitcoin network through activity from Ordinals and Inscriptions helped miners generate profits. Here's a look at the current state of BTC mining.
Read more »

Bitcoin May 4 daily chart alert - Bulls have slight advantage
Read more »

Bitcoin holders swap positions: Long-term sellers and short-term buyers shape market trendAs Bitcoin long-term holders reduce their holdings, short-term holders accumulate coins, reflecting a shift in market sentiment. This could mean that Bitcoin's price may have hit its lowest point.
Read more »