According to the expert, this is due to the MVRV metric

Analyst Ali Martinez warns BTC traders of a cautionary signal

13.02.2024 - 13:30

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2 min

The material is not an investment recommendation and is published for informational purposes only

What’s new? Crypto analyst and trader Ali Martinez has recorded that the increase in the 30-day ratio of the market value of the asset to the realized value (MVRV) exceeded the figure of 11,50%. According to him, judging by the trend over the past two years, this usually precedes temporary corrections in the BTC exchange rate. The expert called the rise in MVRV a cautionary signal for bitcoin traders.

Source: Twitter.com

What else is known? On February 12, IntoTheBlock analysts said that in the coming weeks, the bitcoin price could reach the $52 000 mark and rise above $100 000 by the end of the year. However, there was one important resistance level left to reach this goal — $48 500.

On February 13, the Fear and Greed Index crossed into the “extreme greed” zone for the first time since November 2021. The index reached the 79/100 mark amid bitcoin’s rise above $50 000.

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Earlier, CryptoQuant CEO Ki Young Ju noted that historically, the crypto market’s lows are reached with MVRV at 0,75 and highs at 3,9.

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