PANews, October 22 - CryptoQuant analyst ShayanMarkets stated that the market value to realized value ratio (MVRV) of Bitcoin is an indicator to measure whether the asset is overvalued. This indicator recently fell below its 365-day moving average, indicating that the Bitcoin market may be forming a "cyclical bottom." The analyst mentioned in a report on Monday: "The MVRV ratio is currently close to 1.9, slightly below its 365-day moving average. Historically, every time this ratio falls below the 365-day simple moving average (SMA), it marks the arrival of a buying opportunity and a local bottom signal." The last time this occurred was in mid-2021, June 2022, and early 2024, after which the Bitcoin price rose by 135%, 100%, and 196% respectively. This ongoing pattern suggests that Bitcoin has once again "entered an undervaluation phase, where long-term holders typically.