The MVRV (Market Value to Realized Value) indicator for Bitcoin is currently showing signs of market overheating. When the MVRV ratio is significantly above 3, it typically indicates that Bitcoin is overvalued, suggesting a potential correction or price pullback. As of now, the MVRV is reaching levels similar to past market tops, which may imply that Bitcoin is in an overbought state. Traders and investors often watch this indicator to assess the risk of a market downturn or price correction.
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It’s a beautiful day.
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I’ll see you tomorrow.
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