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MVRV indicator reaches 3.2, BTC expected to rise to $132,000
According to recent announcements by on-chain analysis firm Glassnode, the MVRV indicator plays a crucial role in determining major psychological states. Currently, with BTC price at around $89.15K, the direction of this indicator is attracting investor attention.
On-Chain Analysis of BTC’s MVRV Indicator Status
According to Glassnode’s analysis, despite BTC experiencing an impressive bullish run last year, it has not yet reached the MVRV level of 3.2, which is considered a key threshold indicating extreme market optimism. The MVRV indicator is a ratio of market value to realized value, used to gauge investor sentiment and market cycles.
Using the MVRV Indicator Based on Euphoria Threshold
Historical data shows that when BTC’s MVRV reaches 3.2, the market has entered a state of extreme optimism(euphoria). This threshold has historically served as an important psychological turning point, and experts utilize it as a major indicator for price predictions.
Significance of the $132,000 Target
Glassnode forecasts that if BTC reaches the MVRV level of 3.2, the price could rise to $132,000. This figure represents approximately a 48% increase from the current price and is an objective prediction based on on-chain analysis data. Whether BTC can reach this MVRV threshold in the future remains a key focus for investors.