Bitcoin (BTC) needs to go lower before putting in a macro bottom, one of the market’s most accurate indicators shows.
Data from sources including on-chain analytics firm Glassnode shows Bitcoin’s MVRV-Z Score is almost — but not quite — signaling a price reversal.
MVRV-Z Score inches towards macro bottom
Amid ongoing debate whether if, or when, BTC/USD will go beyond its current macro lows of $17,600, new figures suggest that the market easily has further to fall.
As noted by Filbfilb,…
Source link
