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Analyst: Bitcoin MVRV forms a bearish death cross, need to be wary of further fall risks.
According to Shenchao TechFlow news, on March 31, CryptoQuant analyst Yonsei dent indicated that the Bitcoin MVRV (Market Value to Realized Value Ratio) indicator has shown important technical signals, suggesting that the market may face greater downward pressure.
In early March, the 30-day moving average of MVRV crossed below the 365-day moving average, forming a bearish death cross. This signal indicates that short-term market momentum is weakening, and MVRV is approaching its long-term historical average level.
Analysis shows that the market has currently moved out of the overheating zone, but there are still no clear bottom signals, and further downside risks need to be taken into account.