Bitcoin Bull Signal Flashes as Historical Data Suggests Upswing

CryptoQuant analysis suggests that Bitcoin has entered a bull market phase, and historical data shows that in four out of five similar transitions, prices continued to rise.

The MVRV ratio is currently at 1,018, which Axel Adler considers critical for maintaining an upward trend structure. In this context, the ratio's level could be seen as a threshold for price stability.

Meanwhile, in the United States, there have been net entries of approximately $2.98 billion into spot Bitcoin ETFs over seven consecutive trading days. However, companies following a Bitcoin reserve strategy saw their value decline further, with the top 50 corporate Bitcoin holders becoming net sellers in July.