Bitcoin is back on the rise. In the last 24 hours, it went up by 2.65% and is now trading close to $86,000. It’s been doing well lately, jumping over 15% after falling to around $74,000 not too long ago.
As the price keeps going up, crypto analyst Burak Kesmeci shared his thoughts on what’s happening. He believes Bitcoin is showing early signs of a recovery — but says it’s not a full comeback yet.
What Is the MVRV Ratio and Why It Matters
Kesmeci is watching something called the MVRV ratio. That’s just a way to measure if most people who recently bought Bitcoin are making money or losing money.
- If the number is below 1.00, most people are losing money.
- If it’s above 1.00, they’re in profit.
Right now, this number is 0.90 for short-term holders — people who’ve held their Bitcoin for less than 155 days. These holders often react quickly to market changes. So their behavior can help us guess what might happen next.
Recent Events and What They Mean
A few weeks ago, this number dropped to 0.82 during the “tax tariff poker” drama. That was caused by new international trade rules from the U.S. It was even worse than what we saw during the Japan financial issues in August 2024, when the number hit 0.83.
Now that it has gone back up to 0.90, it shows the mood is getting better. But Kesmeci says it needs to go over 1.00 before we can say the market is truly recovering.
What’s Next for Bitcoin?
At the moment, Bitcoin is at $85,390 — just a bit lower than earlier today. Over the last week, it’s gone up 2.11%, and in the past month, it’s up 4.33%. That shows some positive energy in the market.
However, one issue is the drop in daily trading volume — it’s down by almost 39%. That means fewer people are buying and selling, which could slow down the momentum.
If Bitcoin keeps going up, it might hit a strong barrier at $88,000 — a price where it has often struggled in the past. If it drops, the next support level is around $79,000.
