{"id":76011,"date":"2026-03-12T10:33:17","date_gmt":"2026-03-12T10:33:17","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=76011"},"modified":"2026-03-12T10:33:17","modified_gmt":"2026-03-12T10:33:17","slug":"time-to-pay-attention-critical-bitcoin-metric-just-hit-its-lowest-level-since-the-ftx-collapse","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=76011","title":{"rendered":"Time to Pay Attention: Critical Bitcoin Metric Just Hit Its Lowest Level Since the FTX Collapse"},"content":{"rendered":"
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Bitcoin\u2019s MVRV (Market Value to Realized Value) data, which indicates how overvalued or undervalued the asset is relative to its normal \u201czero-sum game,\u201d is at the same level as late 2022, right after the FTX collapse, Santiment reported on Thursday.<\/p>\n

When the 365-day MVRV was oversold and severely negative following the FTX collapse, Bitcoin prices climbed 67% in the following three months, it added.<\/p>\n

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\u201cThis is typical when average returns are significantly below the average value for what is historically expected,\u201d it stated<\/a>.<\/p>\n<\/blockquote>\n

However, macroeconomic news and \u201cpolarized opinions about Strategy\u2019s aggressive accumulation\u201d have been changing the landscape of cryptocurrency, noted the analysts who concluded that a big move may be ahead.<\/p>\n

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\u201cWhen this powerful indicator reveals a divergence we haven\u2019t seen in over 3 years, pay attention.\u201d<\/p>\n<\/blockquote>\n

A 67% gain from current prices would send BTC back to $116,000, but that is highly unlikely in the current bear market. In fact, analysts believe<\/a> that there will be months of consolidation before a potential major move in the price.<\/p>\n

Early Signs of Stabilization<\/h2>\n

Glassnode also leaned slightly bullish in its weekly on-chain report, stating \u201cBitcoin is showing early signs of stabilisation as ETF inflows return and spot demand recovers.\u201d<\/p>\n

BTC has been consolidating between $63,000 and $72,500 for over a month, repeatedly failing to hold above $70,000, it noted, adding that the price is sitting between two key levels: the Realized Price at $54,400 as support and the \u201cTrue Market Mean\u201d which is serving as resistance at $78,400.<\/p>\n

There are also some stabilizing signals, including positive inflows for US spot Bitcoin ETFs, spot market buyers beginning to absorb selling pressure, perpetual futures funding turning negative, and options market implied volatility easing<\/a>, suggesting reduced immediate fear.<\/p>\n

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\u201cThe market appears to be shifting from forced deleveraging toward early stabilisation, with scope for recovery if spot demand continues to build.\u201d<\/p>\n<\/blockquote>\n

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Resilient in the Face of War<\/p>\n

Bitcoin is showing early signs of stabilisation as ETF inflows return and spot demand recovers. Negative funding points to crowded shorts, while options vol is easing.<\/p>\n

Read the full Week On-Chain\"\ud83d\udc47\"https:\/\/t.co\/jPJp9MbNJp<\/a> pic.twitter.com\/jUHoVhTjXo<\/a><\/p>\n

\u2014 glassnode (@glassnode) March 11, 2026<\/a><\/p>\n<\/blockquote>\n