Bitcoin and Ethereum prices drop with $252 million in market sell-off, recovering later

From Investing.com

December 15, 2024 2:00:18 pm:

In early Sunday trade, the crypto market saw profit-taking, with $252 million in crypto liquidations reported. Bitcoin fell to $101,221 before recovering to $103,292. Ethereum dropped to $3,831 before rebounding to $3,906. Both assets are testing key resistance levels, with MVRV indicators suggesting potential market movements.

The Market Value to Realized Value Ratio (MVRV) is crucial for timing crypto market cycles, indicating overvalued or undervalued conditions. Bitcoin historically bottoms below 1 and peaks above 3, while Ethereum’s MVRV currently sits at 1.76, suggesting room for further growth. Bitcoin’s MVRV at 2.5 indicates warming but not yet at its peak.

Read more at Investing.com: Bitcoin, Ethereum Price in Red Amid $252 Market Sell-Off, What Indicators Say By U.Today