Will Bitcoin (BTC) Surge Soon? Check out the Latest Analysis!
Jakarta, Pintu News – The past trading week saw Bitcoin (BTC) bounce back, by trying to reclaim the $95,000 price area. Nonetheless, the bullish momentum seems to have hit a roadblock in the past day, characterized by a small drop and ongoing price consolidation.
Speculation about Bitcoin’s (BTC) ability to sustain this uptrend continues, and renowned crypto analyst, Burak Kesmeci, sheds light on developments that may determine the direction of Bitcoin’s (BTC) price action in the near future.
Bitcoin MVRV resistance at 365 SMA
In a post on X on Saturday, Kesmeci reported that Bitcoin’s (BTC) MVRV (Market Value to Realized Value) ratio is now facing important resistance at the 365-day simple moving average (365SMA). The analyst explained that the potential development of this situation is very influential for Bitcoin’s (BTC) medium-term future.
The MVRV ratio is an important on-chain metric that measures whether the Bitcoin (BTC) trading price is relatively overvalued or undervalued compared to the realized price. Technically, MVRV is used to indicate profitability, but this metric can also signal market stages, such as price peaks or bottoms, or identify current price trends.
The 365SMA MVRV ratio, which averages all MVRV ratios over the past 365 days, represents a critical threshold for medium-term reversals. Typically, when the MVRV is below the 365SMA, it signals a bearish market, while a crossover above the 365SMA is interpreted as bullish confirmation.
Following recent market developments, Bitcoin’s (BTC) MVRV currently stands at 2.13, slightly below the 365SMA which stands at 2.14. To confirm a long-term bull market despite the recent gains, an upward crossover between the MVRV and 365SMA should occur, signaling a potential medium-term trend reversal after a prolonged correction phase in early 2025.
Also Read: Dogecoin’s New Breakthrough: Predicted Price Increase to $0.25!
Bitcoin Network Fees Surge
In another development, on-chain analytics firm IntoTheBlock reported that Bitcoin (BTC) network fees increased by 42% in the last week. During this period, traders spent $4.03 million on transaction fees, indicating a high level of network engagement.
Meanwhile, crypto exchanges also recorded net withdrawals worth $356 million. While this figure is much lower than the $1.3 billion reported the previous week, it shows that many investors are still choosing to hold onto their assets. Both the increase in network activity and the continued output of exchanges indicate strong demand and positive sentiment in the Bitcoin (BTC) market.
Conclusion
Currently, Bitcoin (BTC) continues to trade at $94,233 after experiencing a 0.78% decline in the past day. On a larger time frame, the major cryptocurrency remains profitable with gains of 11.27% and 8.59% in the last seven and 30 days, respectively. Given the latest indicators and analysis, market participants may need to consider their strategies in the face of changing market dynamics.
Also Read: Can Dogwifhat (WIF) Reach $1? FOMO is the main trigger!
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- NewsBTC. Bitcoin MVRV at Critical Breakout Point, Is a Price Rally Imminent? Accessed on April 28, 2025
- Featured Image: Generated by AI