An analyst explained that the next target for Bitcoin could be $78,700 if BTC could cross this resistance level of an on-chain pricing model. Bitcoin MVRV Extreme Deviation Pricing Bands Put Resistance At $65,800 In a new post on X, analyst Ali has discussed some price levels for Bitcoin that could be important based on an on-chain pricing model. The model is based on the Market Value to Realized Value (MVRV) ratio. The MVRV ratio is a popular indicator that, in short, keeps track of the ratio between the value the Bitcoin investors are holding right now (the market cap) and what they initially used to purchase their coins (the realized cap). This metric tells us about the profit/loss situation of the market as a whole. Related Reading: PEPE Bullish Signal: Whale Withdraws $14.7 Million Stack From Binance Now, a pricing model called the MVRV Extreme Deviation Pricing Bands uses standard deviations from the all-time mean of the MVRV ratio to determine significant price levels for the cryptocurrency. Below is the chart shared by the analyst that ..
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