On chain data shows that Bitcoin has not yet hit bottom, and the MVRV indicator is still in the accumulation range

According to Golden Finance, on chain data shows that the Bitcoin market is still in the stress testing stage. An analyst pointed out that the MVRV indicator is currently around 1.2, belonging to the accumulation range, and the true bottom of the cycle usually occurs when the overall panic cuts and MVRV falls below 1.0.