Analyst: Adjusted MVRV indicator shows Bitcoin has entered a bull market phase
CryptoQuant analyst Axel Adler Jr. stated that the ratio of the adjusted MVRV's 30-day moving average to its 365-day moving average crossed above its 365-day moving average on August 20, marking Bitcoin's entry into an early bull phase when priced at $71,255. This phase lasted 31 days, during which Bitcoin rose by 13%.
