Currently, Bitcoin’s MVRV index suggests that we may be nearing the peak of the current market cycle. This index, which indicates the ratio of market value to realized value, is reaching levels that have historically marked the market cycle tops. Based on data from CryptoQuant, in cycles from 2014 to 2018, this index peaked at a level of 3, while in 2021, a value of 2.5 was sufficient to determine the market top. In all previous cycles, a value of 1 for MVRV indicated the bottom price of Bitcoin. MVRV uses two key metrics: market value and realized value. Market value is calculated based on the current price of Bitcoin and its circulating supply, while realized value is determined based on the last price at which each BTC was traded. When this index exceeds 3.7, the likelihood of reaching a higher price ceiling increases. Currently, the price of Bitcoin is around $96,918, having increased by 1.16% in the past 24 hours. After several unsuccessful attempts to surpass the $100,000 level, this digital asset continues to seek to solidify its position in the market. Bitcoin’s sentiment index has also moved out of the fear zone, returning to the neutral zone and standing at a level of 48 out of 100. Meanwhile, the total market capitalization of cryptocurrencies has reached $3.358 trillion with a 0.1% increase, despite a decreasing trading volume. On the page for real-time digital currency prices, you can see the prices of all tokens and cryptocurrencies live and in real-time.
