Bitcoin (BTC) has maintained a strong bullish performance over the past seven days, with prices increasing by around 12%. Crypto Market leaders rose to nearly $124,000 before experiencing a slight setback. This brought the price to $122,070. As the market continues to maintain a consolidation pattern, renowned analyst Ali Martinez shares some key price insights based on the MVRV price range.
If it exceeds $117,000, it could then drive BTC to $140,000
MVRV (from realised value) metrics measure how far the market price of Bitcoin deviates from realised price, effectively assessing whether BTC is overvalued or undervalued. The color-coded deviation bands on the chart visualize these extremes, with the +0.5σ ($117,644) band currently serving as a significant threshold.
in xPost On October 4th, Maritness explained the importance of this deviant band, saying that BTC’s ability to maintain price action above this mid-sized band could precede a massive bullish continuation. In contrast, the chart below suggests that sustained prices below +0.5σ often marked deeper corrections or cycle resets.
In particular, the upper red band marked at around $139,800 (+1σ) represents the next key resistance level and the area where traders are expected to make a profit. However, stable integration above +0.5σ is required to maintain bullish structural strength and propel the next leg.
However, if prices fall below this level, it is possible that Bitcoin is heading around $95,394 towards the average deviation band. This represents a potential start to the bare market, down 21.8% from current market price.
Bitcoin achieved a stable price at $54,000 as the market remains healthy
Other news reveals data on the GlassNode MVRV pricing bands that the current realised price for BTC is set at around $54,348. In the context, this metric reflects the average price that investors last moved BTC, and acts effectively as psychological support during market correction. In particular, the current gap between spot prices, about $122,000, and realised prices highlight the healthy bull stage, with most holders sitting in virtually unrealized profits. As long as realised prices continue to rise steadily, it strengthens the underlying strength of the market and demonstrates long-term trust in the upward trajectory. At the time of pressing, Bitcoin is valued at $122,197 after a 0.3% decline in the past day. In tandem, daily trading volumes fell by 55.52%, representing a decline in trading activity.
