Bitcoin (BTC) Bottom Signal: On-Chain Metric Hints at November Low and Major Rally Ahead

A key on-chain indicator suggests that Bitcoin's sharp decline in late November 2023 may have marked the cycle's bottom, paving the way for significant upward momentum. Analysis of the MVRV Z-Score, a metric comparing Bitcoin's market value to its realized value, shows the asset entered a historic buy zone during the sell-off. This pattern has previously signaled major bottoms before substantial bull runs. Experts interpreting this data point to a strong recovery phase for BTC, with the potential for considerable gains as market sentiment shifts from fear to accumulation. The current data aligns with long-term bullish forecasts for the leading cryptocurrency.