Bitcoin MVRV momentum for short-term holders (STH) was at a crucial resistance that could trigger a windfall for investors but...
According to on-chain analyst Checkmate, the short-term holder’s MVRV ratio was retesting the 155-day moving average .For context, the MVRV ratio is a valuation metric to gauge whether BTC is overpriced or undervalued. MVRV values above 1 signal that most holders have unrealized profit.
Apart from the BTC valuation, the STH MVRV is a support and resistance level when tracked using the 155-day MA. At press time, the metric’s value edged towards 1 and was on the verge of crossing the 155-day MA.
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