<ul><li>On-chain analyst warns about the importance of assessing the MVRV Ratio to determine if Bitcoin is overvalued or undervalued compared to historical norms.</li><li>Bitcoin's 30-day moving average recently crossed above the 365-day moving average, forming a golden cross, a bullish signal, but the MVRV Ratio is not confirming the rally, indicating a potential divergence like seen in 2021.</li><li>The current cycle seems to mirror the breakdown pattern of 2021, with BTC reaching highs but the MVRV showing a decline, hinting at weakening market conviction and an overextended rally.</li><li>Investors are advised to exercise caution and strategic positioning as both bullish and bearish signals are present in the market, with a need to closely monitor key support levels and watch for any further divergence in MVRV that could impact the rally.</li></ul>

Bitcoin Hits Record Highs—But What’s the MVRV Saying?

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