Bitcoin Enters Bull Market Phase as MVRV Ratio Crosses 1.0

CryptoQuant analyst Axel Adler Jr. reported that Bitcoin's adjusted MVRV 30-day to 365-day moving average ratio surpassed 1.0 on September 20, signaling a transition from an 'Early Bull' to a 'Bull' market phase. At the time of the crossover, Bitcoin was priced at $80,691. Historically, this transition has occurred six times since 2012, with four of the previous five instances ending with higher prices than the entry point. The current ratio stands at 1.018, suggesting a bullish market structure as long as it remains above the 1.0 threshold.