Bitcoin Finds Rejection At Historical Level: More Pain Ahead?
Summary
Bitcoin's MVRV ratio, comparing market cap to realized cap, recently hit a two-year high, suggesting a potential downtrend. Historical data shows resistance at this level, indicating possible further price declines. The current price is around $42,800, up 3% in the past week. If history repeats, more downtrends could be ahead before bullish momentum returns.
