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BITCOIN GAME IS CURRENTLY PAUSED!
MVRV Bands are a cost-based map of Bitcoin's bottom and top.
🔴 The top dashed red line:
Indicates the extremely overvalued zone that has been tested multiple times at previous cycle peaks.
If this zone is to be retested, a price target of $222,000 is projected.
🟢 The bottom green line:
The historic bottom cost zone tested in 2018, 2020, and 2022. If the same scenario repeats, the graph suggests the $50,000 range as the lowest.
🟣 The purple line represents the average cost of investors on the chain, currently around $55,000.
The black line in the middle is the Bitcoin price.
Today, Bitcoin is above the average cost for the general public but not in the historic peak zone.
Similarly, there is no panic at the bottom.
Everything is very balanced.
There is neither euphoria nor fear.
The market is clearly on hold.
I simplified the visuals and metrics.
You can use the site below to view this data live with all details.