Bitcoin’s MVRV Ratio Dips Below 365-Day SMA, Could Signal a Buy Opportunity?

The Bitcoin market is currently buzzing with analysis following CryptoQuant’s recent update on the MVRV (Market Value to Realized Value) ratio. The MVRV Ratio has dropped below its 365-day Simple Moving Average (SMA), signaling a potential cyclical bottom according to historical data. This metric, which compares Bitcoin’s market cap to its realized cap, is crucial in assessing whether the asset is overvalued or undervalued.