According to PANews on February 26, Julio Moreno, head of research at CryptoQuant, posted on social media that it is not possible to say that the price of Bitcoin has bottomed out now, as all valuation indicators have entered the adjustment range, and this process may take more time. Note: MVRV is a relative indicator, which is the ratio of the circulating market value (Market Cap, MV) to the realized market value (Realized Cap, RV).