The Bitcoin Market Value to Realized Value (MVRV) Ratio of the short-term holders is currently retesting its 155-day moving average (MA).
Breaking above the 155-day MA could lead to bullish action for Bitcoin.
The MVRV Ratio compares the value held by BTC investors to the value they initially put in. When the ratio is above 1, it indicates net profit for the average address on the network.
If the short-term holder MVRV Ratio breaks above the 155-day MA, it could result in a potential rally towards a new all-time high for Bitcoin.