Bitcoin’s MVRV fell below 1.2, according to CryptoQuant analyst Darkfost, triggering a third valuation signal during the 2026 bear market. However, the threshold is adjusted over time, and the article provides neither a complete threshold-change history nor a reproducible backtest validating its effectiveness. Five consecutive sessions of net outflows from US spot Bitcoin ETFs, from Nov. 9 through Nov. 13, totaled $1 billion, including $185 million in withdrawals on Nov. 13. An SOPR reading near 0.98 indicates that the measured outputs moved at a loss, while a sustained improvement above 1 combined with renewed buying and ETF inflows would provide stronger evidence of supply absorption. Nvidia’s results scheduled for Nov. 17 could affect risk appetite, but their impact on Bitcoin demand remains to be confirmed.
Source: Read the original article
