CryptoQuant analyst says BTC bull market entry signal appears for sixth time since 2012

CryptoQuant analyst Axel Adler Jr. said Bitcoin’s adjusted MVRV indicator has broken above 1.0, a threshold that marks entry into a bull market. The indicator moved above 1.0 on Sept. 20, when BTC was priced at $80,691, marking the sixth such case since 2012 in which an early bull phase shifted into a full-fledged bull market. Adler explained that the adjusted MVRV compares the 30-day moving average with the 365-day moving average to assess market trends. After the short-term moving average crossed above the long-term moving average on Aug. 20, signaling an early bull phase, a bull market entry signal appeared on Sept. 20. The indicator now stands at 1.018, while BTC is priced at $84,156. Adler said the bull market structure remains valid as long as the indicator stays above 1.0.