Bitcoin Breaks Down: Is a Rebound in Sight?

While Bitcoin saw another week of losses, the recent downturn appears to have eased off. Analysts are now wondering if this may signal the start of a positive turnaround for the cryptocurrency, particularly given its current discounted price level. The recent decline has left many skeptical about Bitcoin’s future prospects, although several indicators suggest that a shift towards recovery might be possible. A closer look at short-term holder MVRV reveals that Bitcoin appears to be nearing a crucial inflection point.