The MVRV Z-Score, a dedicated Bitcoin (BTC) valuation indicator, is approaching a region that has historically created incredible opportunities for Bitcoin (BTC) bulls. Based on these indicators, a veteran cryptocurrency analyst claimed that touching these levels in 2019 and 2015 resulted in “parabolic” rallies.

These Bitcoin indicators point to “parabolic” performance!
The amateur trader and analyst, known by the name Coiner-Yadox, is confident that Bitcoin (BTC) could be close to the “last buying opportunity” before a parabolic growth phase.
Analyst; Bitcoin's market valuation came to such a conclusion based on the MVRV Z-Score indicator, which monitors the correlation between its actual valuation (the price of each Bitcoin (BTC) when it was last moved between two on-chain wallets) and the standard deviation test.
To prove this thesis, he showed similar formations that occurred two years before the 2017 and 2021 bullish rallies. The short "fall" of the MVRV Z-Score refers to the final stage of a bearish recession.
Followers also share this view. Typically below $24,000 is considered a “bad” buy zone during the ongoing period of a market cycle. But investors should be prepared to fall into the “low 20s” in a panic.
On August 16, 2023, BTC wiped out all the gains it had made in the last nine weeks. Digital gold fell below $25,400 in almost no time. Analysts say that historically the "pre-halving" years are well known for such events.
88.3% of short-term Bitcoin (BTC) holders are at a loss
However, the Q3 2023 market is particularly brutal for various categories of Bitcoin (BTC) investors. According to analysis by leading on-chain data tracker Glassnode, short-term BTC holders were the ones who suffered the most from the ongoing crash.
Long-term Bitcoin (BTC) holders have aggressively increased the number of coins in their wallets. According to Glassnode data, almost 9 out of 10 short-term Bitcoin holders are at a loss.
Therefore, 2.26 million BTC is currently held at an unrealized loss. As of press time, BTC price has stabilized above $26,100, up 0.11% in the last 24 hours. However, the Crypto Fear and Greed Index fell to its lowest levels since March 2023.
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