Bitcoin MVRV Ratio Hints at ‘Balanced’ Price, but Is a BTC Rally Imminent?
- Whales holding 10–10K BTC have accumulated over 218,000 BTC since March.
- The MVRV ratio is rising and nearing its 365-day moving average.
- Bollinger Bands are tightening, hinting at an upcoming breakout.
If you’re looking at the Bitcoin price and notice sideways market, you’re only seeing half the picture. Beneath the surface, a combination of on-chain accumulation and technical consolidation suggests a major breakout above $120,000 is to happen soon. That is because the market has clearly entered a phase where institutional confidence and long-term investor patience are quietly building.
Bitcoin “shark” and “whale” wallets are in a buying frenzy
Here’s what the smart money is doing right now. Santiment data showed that wallets holding between 10 and 10,000 BTC have accumulated over 218,000 BTC since late March, and that they now control more than 68% of Bitcoin’s total circulating supply.
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Wallets with 10 to 10K Bitcoin have accumulated 218,570 more $BTC going back to late March. These key stakeholders collectively hold 68.44% of all of Bitcoin's supply, adding ~0.9% of all coins to their wallets during this timeframe. pic.twitter.com/WAuRO7V8Ow
The post Bitcoin MVRV Ratio Hints at ‘Balanced’ Price, but Is a BTC Rally Imminent? appeared first on Coin Edition.
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Bitcoin MVRV Ratio Hints at ‘Balanced’ Price, but Is a BTC Rally Imminent?
- Whales holding 10–10K BTC have accumulated over 218,000 BTC since March.
- The MVRV ratio is rising and nearing its 365-day moving average.
- Bollinger Bands are tightening, hinting at an upcoming breakout.
If you’re looking at the Bitcoin price and notice sideways market, you’re only seeing half the picture. Beneath the surface, a combination of on-chain accumulation and technical consolidation suggests a major breakout above $120,000 is to happen soon. That is because the market has clearly entered a phase where institutional confidence and long-term investor patience are quietly building.
Bitcoin “shark” and “whale” wallets are in a buying frenzy
Here’s what the smart money is doing right now. Santiment data showed that wallets holding between 10 and 10,000 BTC have accumulated over 218,000 BTC since late March, and that they now control more than 68% of Bitcoin’s total circulating supply.
— …
The post Bitcoin MVRV Ratio Hints at ‘Balanced’ Price, but Is a BTC Rally Imminent? appeared first on Coin Edition.
Read More