TLDR
- Bitcoin’s MVRV Ratio slides to 1.8–2.0, a range linked to past market bottoms.
- Past dips in this MVRV zone in 2015, 2019, and 2020 triggered large rallies.
- Bitcoin trades 45 percent below its 2024 peak as it returns to an undervalued zone.
- Analysts say repeating trends could push Bitcoin toward 120K–150K in 2026.
Bitcoin has moved into a range that analysts have long watched for signs of major market shifts. Its MVRV Ratio has fallen into the 1.8–2.0 zone, which many analysts view as a bottoming range that often appears before strong price recoveries. The move has brought new attention from traders who believe that the current market phase may resemble earlier cycle lows that preceded large rallies.
MVRV Ratio Enters Historic Bottom Range
CryptoQuant analyst @CryptoRover reported that Bitcoin’s MVRV Ratio has now reached the 1.8–2.0 band. This metric compares Bitcoin’s market value to its realized value, and it helps analysts assess the average profit or loss of holders. When the ratio drops toward 2.0, long-term holders tend to hold unrealized gains that are smaller, which often matches periods when the asset is undervalued.
The analyst shared data showing this drop on a chart covering March 2024 to November 2025. In this chart, the current MVRV levels match the same accumulation areas seen in past cycles. Investors often use these ranges to gauge if the market is near exhaustion on the downside. The zone has also been associated with renewed long-term interest from buyers who wait for such conditions before entering the market.
Past Cycles Show Similar Behavior
Historical data from CryptoQuant and analyst David Puell show that Bitcoin often finds durable bottoms when the MVRV Ratio stays around 1.8–2.0. Previous cycles in 2015, 2019, and 2020 saw this range before strong price expansions. After each of those dips, Bitcoin posted sharp multi-fold gains in the months that followed.
During those cycles, traders who accumulated in this zone were able to capture major uptrends. The current reading has revived comparisons to these earlier phases, as Bitcoin was also trading near depressed levels at those times. Analysts say the pattern is not always immediate, yet it has been reliable in identifying areas where long-term sentiment begins to change.
Current Prices Resemble Previous Market Lows
Bitcoin is currently trading between 60,000 and 70,000 dollars, which places it about 45 percent below the 2024 peak of roughly 130,000 dollars. This pullback is similar to the 2019 retracement that happened before Bitcoin moved toward 14,000 dollars. It also aligns with the phase before the 2020 rally that pushed the price to 69,000 dollars.
Market watchers note that this decline fits the broader rhythm of the 2024 halving cycle. Halving cycles often have mid-period corrections that later give way to advances as supply pressure changes. Because of this, some analysts believe that the current range could act as a base for the next move, although they also say that market conditions can shift.
Analysts Expect Possible Breakout
Community sentiment is cautious but leaning positive. CryptoQuant analysts said the MVRV dip may be “the calm before the storm.” They pointed to previous cycles where similar readings were followed by rallies of two to five times the price. If Bitcoin follows that pattern again, it may move toward the 120,000 to 150,000 dollar range by mid-2026.
Analysts also warn that global economic trends and regulatory news may create short-term swings. Even so, they note that MVRV patterns have remained reliable signals in past cycles. Traders are now watching to see if the current phase becomes another launch point for a major advance.
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