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Bitcoin Recovers To $108K But MVRV Momentum Signals Caution – Details | Bitcoinist.com
Related Reading: Bitcoin Exchange Flows Drop To 10-Year Low – Consolidation Or Supply Shock?Momentum is clearly shifting in favor of the bulls. Trading volumes are climbing, and investor sentiment is turning optimistic as BTC approaches the $110K resistance. Yet, not all indicators are aligned. According to CryptoQuant, the MVRV Ratio — which measures market value relative to realized value — is beginning to stall. Historically, this has preceded slower phases of growth or local tops.
While a decisive breakout could trigger the next surge, the current hesitation in on-chain momentum suggests traders should remain alert. With volatility rising and macro uncertainty still present, BTC’s next move could define the broader market trend heading into the second half of the year.
Bitcoin At A Crossroads: Will Bulls Break Out or Retrace?
Bitcoin is hovering at a pivotal level, with the market on edge as it decides between a breakout into price discovery or a deeper retrace toward lower support. After rebounding 10% since last Sunday, BTC reclaimed the $106K level, recovering from recent volatility caused by geopolitical tensions. Bulls are confidently holding the range, yet momentum has stalled just below the crucial $110K mark — the gateway to new all-time highs. Meanwhile, bears have failed to push Bitcoin below the psychological $100K level, signaling strong underlying demand.
According to on-chain data from CryptoQuant, while the short-term recovery looks impressive, the MVRV Ratio is flashing early warning signs. This metric — which compares Bitcoin’s market value to its realized value — helps identify overvaluation zones. More importantly, the 365-day moving average slope of the MVRV Ratio, which has reliably signaled cycle tops in the past, is starting to flatten. This suggests that bullish momentum could be fading, even as prices hold up.
While there’s still room for short-term upside — especially if BTC breaks above $110K — long-term signals advise caution. Tactical plays may be profitable, but ignoring macro and on-chain context at this stage could expose portfolios to unnecessary risk.
Related Reading: Bitcoin Weekly Drawdown Shrinks To 4.7% – Calm Before The Next Breakout?
BTC Faces Local Resistance
Bitcoin is currently trading at $107,227, showing strong recovery momentum after last week’s dip to $98,000. The 12-hour chart reveals a bullish structure, with price breaking above the 50 and 100-period SMAs, both converging around $105,500 — now acting as near-term support. The move confirms bullish intent, especially as volume picked up significantly on the breakout from the $103,600 support zone.
Related Reading: Bitcoin UTXO Model Signals A Shift – Buyers Return As Selling Pressure Fades On the downside, a rejection at current levels could lead to a retest of the $105,000 support. The 200-period SMA around $96,365 remains the ultimate support base in case of a deeper correction.
Featured image from Dall-E, chart from TradingView