Unusual Bitcoin MVRV Event Bodes Well For Long-Term Outlook – Here’s Why

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Bitcoinist 15h ago

Unusual Bitcoin MVRV Event Bodes Well For Long-Term Outlook – Here’s Why - Bitcoinist

Quick Summary:

Bitcoin traded above $111,000 to record a new all-time high (ATH) in the past week, as the crypto bull run revival continues.

This development can be attributed to the fact that a high volume of circulating Bitcoin exchanged hands at higher prices, thereby resulting in a higher cost basis.

Although the premier cryptocurrency has experienced some retracement since then, largely fueled by the US Government’s announcement of potential new trade tariffs, investors still remain bullish as a successful reclaim of the previous ATH strongly signals a continuation of the current uptrend.