Analyst: 180-day MVRV Z-score indicates BTC is not yet extremely overbought and is expected to rise sharply

Odaily News Currently, Bitcoin is approaching a critical moment in its quest to breakout higher. If successful, analysts expect a massive rally to occur, resulting in new all-time highs in rapid succession. Investors are particularly optimistic because historically, the year after the halving has produced the highest returns for BTC, making this phase crucial for long-term growth.
CryptoQuant analyst Axel Adler noted that the BTC market is still in a growth phase, which is supported by the MVRV Z-score smoothed by the 180-day moving average. This indicator, which is often used to assess market conditions, shows that Bitcoin’s price has not yet reached extreme overbought levels, leaving room for a sharp rise.