Bitcoin MVRV Signals Mid-Cycle Setup for Breakout

Bitcoin’s MVRV ratio is holding around 2.2–2.3, still below the March peak of 2.77 that aligned with the $72K high. Historically, cycle tops form closer to 3.0, suggesting more room to run. Sentiment has improved with the Fed rolling back Operation Chokepoint, easing pressure on banks and crypto access. With BTC consolidating between $118K and $120K, a breakout above $120K could act as the launchpad toward $130K+ in the coming weeks, supported by ongoing smart money accumulation.