Bitcoin May Have Entered a New Bull Market Despite Recent Sell-Off, BloFin Says
- —BTC reclaimed its 50-week moving average near $78,800 in September and traded above $86,000 in early October
- —MVRV stood at 1.54 on October 11, above its 365-day average of 1.44
- —Drawdown from the October 2025 peak of $124,824 to June 2026's $58,525 was 53%
- —83% of supply, or 16.64 million BTC, has stayed unmoved for at least 155 days
Why it matters: If the 50-week average holds, the cycle may prove shorter and shallower than history suggests, though last week's $679 million ETF outflow shows institutional demand can still falter.
Source: BeInCrypto
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