Bitcoin on Verge of Record High if Cryptocurrency Surpasses Specific Resistance Point According to Crypto Specialist
The curl-tongued Daily Hodl is here to feed your crypto-thirst with the latest news on Bitcoin, Ethereum, and beyond! Today, we've got the lowdown on BTC analysis that could make your stack pop!
Our cunning trader buddy, Ali Martinez, has dropped a strategy session on X, where he lets his 136k followers in on some insanely juicy tips. Martinez reckons that Bitcoin could blaze past a key resistance level of $97,530, which - if achieved - would pave the way for a whole new ball game of all-time high prices!
Here's how it breaks down:
- Martinez believes BTC's next stop would be around an eye-watering $114,230 if we bust through that $97,530 barrier, so keep your eyes peeled!
- Historically, when Bitcoin's MVRV (market value to realized value) crosses its one-year SMA (simple moving average), the big daddy of cryptocurrencies gears up for a prime position to rally. That's what Martinez calls a "golden cross," and it usually signals strong bullish potential, according to the wily trader.
- So, while it sounds like a wild ride, you best be on the watch for a couple of key support levels: $93,198 and $83,443, just in case BTC's momentum takes an unexpected turn.
- Hang on tight, Bitcoin is trading at $97,031 with a 3.3% leap during the last 24 hours – whew, what a rush!
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Now, gather 'round for some mind-blowing crypto announcements spilling out all over the blockchain scene:
- aZen has successfully bagged a $1.2 million seed round and some dough from web3 grants to construct the DePIN for AI that's ubiquitous across the globe. They've snagged a staggering 600k users already, wowzers!
- Your eyes won't believe it – Bitcoin Seoul 2025 is coming, and they'll be hosting all the heavyweights of the crypto industry for the largest Bitcoin-focused conference in Asia! April 30 marks the big event, so you better get on board!
- FLOKI and Rice Robotics have teamed up to launch an AI companion robot with token rewards - the perfect partner for all you crypto aficionados!
- STEPN and the Argentina Football Association are joining forces for their latest NFT drop – stay sharp to catch all the exclusive crypto collectibles!
- BYDFi has linked up with Ledger to debut a limited edition hardware wallet at TOKEN2049 Dubai – looks like it's going to be a bombastic event!
In case you missed it, the geniuses behind the popular Telegram wallet Grindery have announced their wallet infrastructure for AI agents, and Common has launched their first privacy web app with sub-second proving times for Arbitrum and Aleph Zero EVM!
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Curious about MVRV? Let's dive into the ins and outs of this powerful on-chain indicator:
Understanding MVRV
- Definition: MVRV weighs Bitcoin's current market value against its realized value - the price at which all coins were last moved. This comparison keeps tabs on the market's perceived value and whether it's over or undervalued.
- Interpretation: When the MVRV ratio is high (generally above 3), it suggests the market value outstrips the realized value – potentially indicating an overvalued market in need of a correction. Alternatively, a low MVRV ratio (typically below 1) implies the market value is shy of the realized value – a telltale sign of an undervalued market that could see a price surge.
MVRV & Price Prediction
- Recent Trends: As of April 2025, the MVRV ratio stands at approximately 2.13, hanging just below its 365SMA (365-day simple moving average) of 2.14[2][5]. Currently, this positioning indicates a cautious market phase, as the MVRV usually languishing below the 365SMA points to a bearish outlook.
- Critical Breakout Point: To prove a bullish trend, the MVRV ratio needs to cross above its 365SMA. This crossover could signal a potential medium-term reversal and provide support for a price rally[5].
Bear in mind that while MVRV offers invaluable insights into Bitcoin's market value and potential price fluctuations, it's just one of several indicators used to predict future price targets alongside other technical and market analyses. Stay tuned for more crypto education from your friendly Daily Hodl termites!
- The Daily Hodl advises keeping an eye on the MVRV (market value to realized value) ratio, a powerful on-chain indicator used to determine whether Bitcoin's market value is over or undervalued.
- In crypto analysis, when the MVRV ratio crosses its one-year SMA (simple moving average), it often signals a strong bullish potential, as it suggests the market value is significantly higher than the realized value, indicative of an undervalued market that could see a price surge.
- To confirm a bullish trend and potential medium-term reversal, the MVRV ratio needs to cross above its 365SMA (365-day simple moving average).
- It's essential to note that while MVRV offers valuable insights into Bitcoin's market value and potential price fluctuations, it should not be the only factor considered when predicting future price targets, as other technical and market analyses are also crucial.
