Early Signs of a Bitcoin Bull Market Are Starting to Appear: Is It Time to Get In?
Bitcoin (BTC) is once again showing positive signals after a fairly long period of consolidation.
With the price approaching the US$100,000 level, many investors are beginning to wonder: is this the start of a new bull market?
MVRV Ratio Provides Positive Signal
According to information we sourced from Beincrypto media, one of the indicators gaining attention is the Market Value to Realized Value (MVRV) ratio.
Recently, the MVRV ratio rebounded from the 1.74 level, which is historically considered a strong confidence point for Bitcoin.
This movement resembles the pattern seen in 2024, which was followed by a significant price surge in September of that year.
Strong Support Level Around US$95,000–US$97,000
Data from In/Out of the Money Around Price (IOMAP) shows that approximately 649,600 BTC, worth over US$61.6 billion, was purchased in the price range of US$95,193 to US$97,437.
This large accumulation forms a solid support level that can serve as a foundation for the next price movement.
Breakout Potential Toward US$100,000
Currently, Bitcoin is attempting to break through resistance at the US$95,761 level. If successful, BTC has the potential to continue rising toward US$98,000 and even reach US$100,000.
However, if it fails to maintain support at US$93,625, there is a risk of further decline.
Conclusion
With technical indicators showing positive signals and strong support levels, Bitcoin appears to be on the verge of a new bull market.
Nevertheless, investors should remain cautious and closely monitor overall market developments before making investment decisions.
