At press time, MVRV is flashing a warning sign for Bitcoin (BTC), suggesting that BTC might face a price correction in the coming days.
, the world’s biggest cryptocurrency by market capitalization, appears to be in a danger zone as reported by a crucial on-chain metric.
This danger zone occurs when BTC’s MVRV approaches or exceeds +5%. As of this writing, the metric stands at +4.2%, indicating that the price is nearing a correction.MVRV is a crucial on-chain metric that traders and investors use when building positions. If the MVRV is near +5%, it indicates a potential price correction.
Exchange outflows also hint at a bullish sign, as they reduce the likelihood of selling pressure and attract new investors.According to AMBCrypto’s technical analysis, BTC is in an uptrend. It has recently found support from an upward-sloping trendline and is now heading toward its all-time high near $100,000.
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