BTC is currently entering the "overly optimistic" range, and the MVRV indicator warns of adjustment risks

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CryptoChan2024/11/21 04:01

By:CryptoChan

According to the latest on-chain data, Bitcoin (BTC) based on the analysis of the MVRV indicator (historical cumulative average plus or minus multiple times Standard Deviation), currently scores 70.6 and enters the "overly optimistic" range. This indicator divides the market sentiment into eight stages: extreme panic, caution, neutrality, optimism, and greed by dividing it into a range of "-1σ to + 2σ" and combining it with oscillation indicators. The data shows that when the oscillation value is greater than 100, it is usually "extremely greedy" and it is recommended to gradually escape the top, while < 0 corresponds to "extreme panic" and is often a signal of bear market bottom fishing.

The current high score indicates that market sentiment is trending towards overheating and there may be adjustment pressure. Investors need to closely monitor future market trends, maintain risk awareness, and respond to possible fluctuations.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

After dropping from $106,000 to $80,600, Bitcoin has stabilized and started to rebound, sparking discussions in the market about whether a local bottom has been reached. While whales and retail investors continue to sell, mid-sized holders are accumulating. Negative funding rates suggest a potential short squeeze. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.

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