Bitcoin (BTC) is not in bear market, CryptoQuant data shows

CryptoQuant analytics firm has published a tweet that says that the flagship digital currency Bitcoin is not in a bear market now, unlike what many people think.

The Bitcoin MVRV ratio shows that a bear market has not arrived yet since the BTC price has not plunged as low as it was after the 2017 all-time high of $20,000.

MVRV stands for market-value-to-realized-value ratio. It shows the ratio of the market capitalization value of an asset to its realized capitalization.

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