According to ME News, on September 26 (UTC+8), CryptoQuant analyst Axel Adler Jr. stated that the 30-day moving average of the adjusted MVRV ratio crossed above its 365-day moving average on August 20, signaling Bitcoin’s entry into the early bull market phase at a price of $71,255. On September 20, the ratio broke above the 1.0 benchmark, marking Bitcoin’s transition into the bull market phase at a price of $80,691. The current ratio stands at 1.018, with Bitcoin trading at $84,156; as long as the ratio remains above 1.0, the bullish structure remains intact. This marks the sixth time since 2012 that Bitcoin has transitioned from the early bull market to the bull market phase. (Source: ODAILY)
Bitcoin Enters Bull Market Phase as Adjusted MVRV Ratio Surpasses 1.0
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Summary
Bitcoin analysis from MetaEra shows the adjusted MVRV ratio crossed 1.0 on September 20, confirming Bitcoin’s entry into a bull market phase at $80,691. The 30-day moving average surpassed the 365-day line on August 20, with Bitcoin analysis indicating a shift at $71,255. The current ratio is 1.018, with Bitcoin priced at $84,156. As long as the ratio remains above 1.0, the bullish trend remains intact. This marks the sixth time since 2012 that Bitcoin has entered a bull market phase.
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