Bitcoin Enters Early Bull Market Phase After MVRV Signal, CryptoQuant Analyst Says
CryptoQuant analyst Axel Adler Jr. said the adjusted MVRV 30-day moving average to 365-day moving average ratio crossed above its 365-day moving average on August 20, signaling that Bitcoin entered an early bull market phase at a price of $71,255. According to ChainCatcher, the phase lasted 31 days, during which Bitcoin rose 13%.