This Bitcoin Indicator Has Hit Levels That Often Lead To Corrections
Summary
Bitcoin's MVRV ratio, comparing market cap to realized cap, indicates short-term holders are 40% above their cost basis. This has historically led to price corrections. The STH MVRV has been consistently above 1, but the recent surge has raised concerns. While not definitive, historical patterns suggest a potential correction. Bitcoin's price is currently around $67,700 after reaching a new high above $69,000.
