The MVRV (Market Value to Realized Value) indicator is renowned for tracking down the Bitcoin price tops and bottoms. Whenever the MVRV value is below 2, it signals an accumulation zone, indicating the price is still undervalued. Peaks in previous cycles have always occurred when the MVRV value reached 3.5 or above, suggesting it’s time to start exiting the market.

Currently, the MVRV value is at 2.3, suggesting significant room for price growth before reaching Bitcoin’s fair value. Even if the price drops, it’s seen as an opportunity to reinforce positions. The bearish reversal could begin when the MVRV approaches 3, revealing that the uptrend is still somewhat far from the peak. Hence, the BTC price could potentially achieve a new high in this cycle for a new all-time high level, surpassing the $74K mark.

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