Bitcoin trades at $81,546 as MVRV drops to 25.7%, testing $80,000 support

Bitcoin is currently priced at $81,546.13, showing a slight increase of 0.02% over the past 24 hours but a decline of 1.79% during the week, according to CoinGecko. The daily trading volume stands at $14.92 billion as the cryptocurrency hovers around the $81,500 mark after a recent rejection near $87,000. Analyst Maison Cypher reported that Bitcoin has recently traded within a narrow range between $81,000 and $82,000. Cypher observed that the price is consolidating and that market participants are focusing on whether Bitcoin can reclaim its 200-day moving average (MA200), a level often viewed as critical for determining longer-term trends.

Source: CoinTurk News