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Not only are cyclical patterns aligning for Bitcoin, but short-term activity is also heating up; yet, the Bitcoin market value to realized value ratio indicates that Bitcoin is not yet as overheated as it was during prior bull markets., Bitcoin bull markets have peaked at 300%+ MVRV, which, when compared to the current 150% figure, indicates that the bull market has room to run even farther.
The recent high of $35,000 is the next resistance level for Bitcoin, and if this level is broken, the next point might be around $38,000–$39,000, where 333,000 BTC was purchased.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.