Bitcoin Nears Golden Cross As MVRV Ratio Builds Momentum – Is A Breakout Coming?

According to a CryptoQuant Quicktake post by contributor Yonsei_dent, Bitcoin’s (BTC) recent rally has reignited momentum in the Market Value to Realized Value (MVRV) ratio – a historically bullish indicator that has often preceded major price surges.

Bitcoin Rally Gives Momentum To MVRV Ratio

After forming a potential local bottom at $74,508 on April 6, BTC has surged over 15%, now trading in the mid-$90,000 range. Following this bullish price action, several analysts suggest that BTC could be gearing up for a new all-time high (ATH) soon.

In their analysis, Yonsei_dent notes that as BTC hovers near $94,000, the MVRV ratio (orange line) has rebounded sharply to 2.12 – approaching the critical 365-day moving average (MA) of 2.15. This level indicates that BTC investors are currently sitting on an average unrealized gain of 112%, a historically strong positioning level during bullish cycles.

The analyst further explains that if the 30-day MA (red line) decisively crosses above the 365-day MA (blue line), it could signal a “golden cross” – a well-known bullish formation. 

As shown in the green box on the chart, this same setup preceded major rallies in earlier cycles. For instance, the last golden cross in November 2024 was followed by a substantial BTC rally, during which it broke multiple all-time highs (ATHs).

However, Yonsei_dent cautions against excessive optimism. The analyst emphasizes the importance of continuing to monitor the MVRV trend to “confirm the strength and sustainability of the move.”

BTC Heading To New ATH As ETF Interest Returns

In a separate X post, crypto analyst Ali Martinez pointed out that Bitcoin exchange-traded funds (ETFs) are once again attracting significant inflows. According to his data, BTC ETFs have seen nearly 6,900 BTC in inflows so far this week.

Martinez highlighted $97,530 as the next key resistance level BTC must surpass before attempting a new ATH. For context, Bitcoin’s current all-time high stands at $108,786, achieved on January 20, 2025.

Meanwhile, crypto analyst Titan of Crypto noted that BTC has bounced off the orange line of the Golden Ratio Multiplier in the chart below. The next target, marked by the blue line, could propel the leading digital currency to $125,000.

Other analysts forecast even more ambitious targets, with one such prediction stating that BTC can reach $450,000 by Q4 2025, if it follows gold’s recent price momentum. At press time, BTC trades at $93,922, down 1% in the past 24 hours.