Analysts believe Bitcoin may still have significant upside ahead, pointing out that a rare signal has appeared on a key valuation metric for the first time in roughly two years — and history suggests it could mark the start of a major price run.
A Critical Level In PlayFailing to hold it, analysts warn, could send prices sliding back toward $50,000. The stakes are high, and the outcome of this test may shape Bitcoin’s direction for months to come.
The focus, though, goes beyond simple price charts. A metric called the Market Value to Realized Value ratio — or MVRV — is on the verge of printing what analysts call a golden cross, a crossover event where the ratio moves above its 200-day exponential moving average.
This signal is a representative trend reversal signal and is a bullish indicator.
A golden cross is about to occur again following the dead cross last August.
A second occurrence in September 2023 preceded an even bigger move — a roughly 400% rally that eventually carried Bitcoin to its all-time high of $126,000 in October 2025.
Those precedents are fueling optimism. Data from Glassnode adds another layer to the picture. The short-term holder cost basis — the average entry price for investors who have held Bitcoin for fewer than 155 days — shows a “heated” band at $92,000 and an “overheated” band at $104,000.
Based on that data, Bitcoin has room to run before reaching historically stretched territory.
Analysts Signal A Bigger Move AheadMultiple analysts are pointing to broader technical setups as well. Analyst Shib Spain noted that Bitcoin recently broke above a multi-month downtrend line on the weekly chart, a move reinforced by a bullish MACD crossover.
“Prices will go much, much higher,” the analyst wrote, adding that “something big” lies ahead.
Featured image from Gemini, chart from TradingView
