Bitcoin is at a crucial point as its Market Value to Realized Value (MVRV) approaches a key resistance level. Crypto analyst Burak Kesmeci noted that the MVRV is facing resistance at its 365-day simple moving average (365SMA), which could impact Bitcoin's mid-term price trend.
Currently, Bitcoin's MVRV stands at 2.13, slightly below its 365SMA of 2.14. Crossing above this level could signal a medium-term trend reversal, potentially confirming a long-term bullish market following the correction phase earlier in 2025.
IntoTheBlock reported a 42% surge in Bitcoin network fees last week, with traders spending $4.03 million on transactions. As of today, Bitcoin is trading around $94,000, reflecting slight fluctuations but demonstrating overall stability. These factors combined suggest a market closely watching for potential bullish signals.