data<\/a> from CoinGecko shows that BTC’s 24-hour trading volume has increased from below $30 billion last Monday to currently above $38 billion as of today.<\/p>\nFeatured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"
The Bitcoin price action has sparked renewed interest among analysts and investors as the cryptocurrency approaches a major event (the US election) later in November. A CryptoQuant analyst known as CoinLupin recently provided an analysis on the CryptoQuant QuickTake platform, focusing on Bitcoin\u2019s Market Value to Realized Value (MVRV) ratio, a metric often used to gauge Bitcoin\u2019s value compared to its on-chain fundamentals. With macroeconomic factors creating uncertainty in the crypto markets, CoinLupin shared insights on the significance of MVRV for evaluating Bitcoin\u2019s current market position. Related Reading: Mt. Gox Stirs Market with 500 Bitcoin Transfer to Unknown Wallets\u2014What\u2019s Next for BTC? MVRV And Historical Cycle Peaks The MVRV ratio, currently around 2, indicates that Bitcoin\u2019s market value is approximately double its on-chain realized value, reflecting the average price paid by all asset holders. CoinLupin explained that the key lies in observing trend changes within the MVRV ratio over time rather than fixating on this absolute value. Using the 365-day Bollinger Band for MVRV along with the 4-year average\u2014a common reflection of Bitcoin\u2019s cyclical trends\u2014the analyst noted that the MVRV ratio is currently above the long-term average and recently exceeded its 365-day moving average. According to CoinLupin, this suggests that Bitcoin’s upward trend remains intact. CoinLupin elaborated on the potential significance of Bitcoin\u2019s MVRV levels, particularly regarding historical cycle peaks. In previous cycles, Bitcoin has typically peaked when the MVRV ratio is between 3 and 3.6. While Bitcoin\u2019s current MVRV of 2 does not yet approach this peak range, the upward trend in the MVRV indicates that the market may still have room for growth if historical patterns hold. Should the Realized Value (RV) remain constant, CoinLupin\u2019s analysis projects that Bitcoin would need a price increase of around 43% to 77% to reach an MVRV level between 3 and 3.6. This translates to a potential price target range of $95,000 to $120,000, provided market conditions support upward momentum. However, the analyst also noted that\u00a0the Realized Value could increase as new buying interest emerges, potentially pushing peak valuations beyond these estimated levels. Bitcoin Market Performance After several weeks and days of building momentum to surge past the $70,000 resistance, Bitcoin has again fallen below this price mark, indicating that there might not be enough momentum yet to move further to the upside. So far, the asset has declined by nearly 1% in the past week. However, BTC currently trades for $68,306, recording a slight increase in price by 1% as its 24-hour high remains at $69,317. Interestingly, despite the slight dip in price in the past weeks, Bitcoin’s daily trading volume has registered an increase over this period. Related Reading: Tracking Bitcoin\u2019s Profit Cycles: Could A New Market High Be Near? Particularly, data from CoinGecko shows that BTC’s 24-hour trading volume has increased from below $30 billion last Monday to currently above $38 billion as of today. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":651564,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,629,86686,1119,78790,10923,83531],"class_list":["post-651555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-market","tag-bitcoin-mvrv-ratio","tag-btc","tag-btcusdt","tag-crypto-market","tag-cryptoquant"],"acf":[],"yoast_head":"\n
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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Analyst Predicts Bitcoin Bull Run: MVRV Metric Hints At $95K To $120K Target","url":"http:\/\/wncen.com\/bitcoin-news\/analyst-predicts-bitcoin-bull-run-mvrv-metric-hints-at-95k-to-120k-target\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/bitcoin-news\/analyst-predicts-bitcoin-bull-run-mvrv-metric-hints-at-95k-to-120k-target\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/DALL\u00b7E-2024-11-04-16.06.12-A-digital-illustration-depicting-an-analysts-prediction-of-a-Bitcoin-bull-run-with-MVRV-metrics-hinting-at-a-target-range-of-95K-to-120K.-The-image.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/DALL\u00b7E-2024-11-04-16.06.12-A-digital-illustration-depicting-an-analysts-prediction-of-a-Bitcoin-bull-run-with-MVRV-metrics-hinting-at-a-target-range-of-95K-to-120K.-The-image.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin market","bitcoin mvrv ratio","btc","btcusdt","crypto market","cryptoquant"],"dateCreated":"2024-11-05T01:30:37Z","datePublished":"2024-11-05T01:30:37Z","dateModified":"2024-11-05T01:30:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Analyst Predicts Bitcoin Bull Run: MVRV Metric Hints At $95K To $120K Target\",\"url\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/analyst-predicts-bitcoin-bull-run-mvrv-metric-hints-at-95k-to-120k-target\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/analyst-predicts-bitcoin-bull-run-mvrv-metric-hints-at-95k-to-120k-target\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/DALL\\u00b7E-2024-11-04-16.06.12-A-digital-illustration-depicting-an-analysts-prediction-of-a-Bitcoin-bull-run-with-MVRV-metrics-hinting-at-a-target-range-of-95K-to-120K.-The-image.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/DALL\\u00b7E-2024-11-04-16.06.12-A-digital-illustration-depicting-an-analysts-prediction-of-a-Bitcoin-bull-run-with-MVRV-metrics-hinting-at-a-target-range-of-95K-to-120K.-The-image.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin market\",\"bitcoin mvrv ratio\",\"btc\",\"btcusdt\",\"crypto market\",\"cryptoquant\"],\"dateCreated\":\"2024-11-05T01:30:37Z\",\"datePublished\":\"2024-11-05T01:30:37Z\",\"dateModified\":\"2024-11-05T01:30:37Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/DALL\u00b7E-2024-11-04-16.06.12-A-digital-illustration-depicting-an-analysts-prediction-of-a-Bitcoin-bull-run-with-MVRV-metrics-hinting-at-a-target-range-of-95K-to-120K.-The-image.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/651555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=651555"}],"version-history":[{"count":3,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/651555\/revisions"}],"predecessor-version":[{"id":651567,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/651555\/revisions\/651567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/651564"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=651555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=651555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=651555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}