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Bitcoin just flashed signal that triggered major bull markets
Bitcoin has triggered an on-chain signal that previously marked the start of two major bull markets, as it attempts to reclaim the $90,000 level. Its MVRV ratio crossed back above its 365-day moving average, according to Glassnode data shared on September 22.
Published:
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What happened
Bitcoin has triggered an on-chain signal that previously marked the start of two major bull markets, as it attempts to reclaim the $90,000 level. Its MVRV ratio crossed back above its 365-day moving average, according to Glassnode data shared on September 22.
Confirmed
Global impact / market context
This matters because the same technical crossover preceded the last two major Bitcoin bull markets. If the pattern repeats, it could draw more buyers into Bitcoin. That added demand could push the price higher, rewarding investors who act early, while those who wait may buy at higher prices.
Analyst inference
The signal arrives as Bitcoin tries to reclaim the $90,000 level, a price it has traded near recently. Holding above that level could reinforce positive momentum and encourage more buying, while failing to hold it might weaken the bullish case and prompt some investors to sell.
Analyst inference
What to watch
- Whether Bitcoin reclaims and stays above the $90,000 level, since the article says the cryptocurrency is currently attempting that move. Confirmed
- Whether the MVRV ratio keeps rising above its 365-day moving average, which would suggest the bullish signal is strengthening rather than fading away. Analyst inference
- Whether Bitcoin's price follows the pattern of the prior two bull markets, which would mean sustained gains and higher revenue for crypto companies after this crossover. Analyst inference
Affected assets
- BTC — Bitcoin