Bitcoin's price experienced a notable recovery after a decline last week. A recent analysis by CryptoQuant highlighted a significant movement of dormant Bitcoins, suggesting long-term holders are influencing market trends. Additionally, the downward trend in Bitcoin's MVRV ratio may indicate potential entry points for long-term investors.
A shift in the MVRV ratio and dormant coin movement may indicate long-term holders are influencing market trends .has experienced a noteworthy shift in momentum after a steady decline last week brought its price as low as $94,000.
While this upward movement is a positive development, a deeper analysis of the network’s underlying metrics sheds light on the potential future direction for the leading cryptocurrency. Importantly, these coins were not sent to exchanges, suggesting they were not intended for immediate liquidation.“It’s important to note that the average acquisition price of these coins is quite low, which could influence the holders’ future decisions regarding potential sales.”More importantly, the MVRV ratio also provided valuable insights into Bitcoin’s market health.
BITCOIN MVRV LONG-TERM HOLDERS MARKET TRENDS DORMANTCY
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