Bitcoin is trading near $71,480 after failing to break $74,000 resistance. Momentum remains weak.
Market analyst Ali Martinez highlights the MVRV Z-Score-a metric comparing Bitcoin’s market value to holders’ average cost basis. Historically, readings near -0.262 preceded major bullish cycles in 2015, 2019, and 2022.
The current Z-Score stands at 0.469-still far from that threshold. That suggests further downside is likely before a sustainable bottom forms.
Past cycles show Bitcoin often spent weeks or months consolidating near the -0.262 level before launching higher.
