Bitcoin Drops To $82K As MVRV Indicator Signals More Downside Pressure To Come
The post Bitcoin Drops To $82K As MVRV Indicator Signals More Downside Pressure To Come appeared on BitcoinEthereumNews.com.
Latest data from CryptoQuant has spotted some issues over Bitcoin MVRV ratio movement. Today, data from CryptoQuant identified an appearance of rare, but potential bearish signal for Bitcoin market. Yonsei Dent, a crypto analyst from CryptoQuant, spotted a formation of a MVRV Death Cross on Bitcoin, raising concerns over a falling market risk. MVRV Dead Cross Signals Mounting Downside Risk “In early March, the 30DMA crossed below the 365DMA — a bearish dead cross — signaling weakening short-term momentum and growing downward pressure… With the MVRV now converging toward its long-term historical average, it appears… pic.twitter.com/8rWEgpviNJ — CryptoQuant.com (@cryptoquant_com) March 31, 2025 Bitcoin to embrace bearish momentum According to latest metrics reported by the CryptoQuant analyst, Bitcoin’s 30-day moving average (DMA) has tremendously dropped, a decrease that has brought it to cross under the 365-day moving day average (DMA). This situation is commonly known as a “death cross.” Historically, this double-cross typically occurs when the 50 MA crosses under the 200 MA, suggesting a potential long-term downturn movement trend. In Bitcoin’s MVRV ratio, this double-cross happens when the 30-DMA moves below the 365-DMA. In the past, such events often happened before a bearish market trend (project a potential bearish momentum), making it a critical situation for Bitcoin. In short, such indicators are often accompanied by price consolidations. According to Yonsei, while so far there are no clear indicators of a bottom, caution should be observed. Bitcoin price updates Data from CoinGecko shows that Bitcoin has been on a declining movement recently. The asset has been down 6.6% and 3.3% over the past week and one month ago, respectively. The flagship cryptocurrency is currently in a dangerous situation as it has expanded its downturn trend to a straight seven days. The asset is currently standing at $82,076 after seeing a 1.4%…
Filed under: News - @ April 1, 2025 1:23 am