Bitcoin prices are firm when writing and trading at around multi-month highs but below the all-important liquidation line at around $72,000.

Though Bitcoin might be shaky, dumping in the London session on April 30, IntoTheBlock data now 

An analyst has explained how a pattern forming in the Bitcoin Market Value to Realized Value (MVRV) could suggest now may be the time to buy.

On-chain data shows a Bitcoin ratio has found rejection at a historical level, a sign that the asset’s downtrend may continue.

The current trend in the Bitcoin MVRV ratio suggests the ongoing rally in the cryptocurrency’s price may have room to grow further still.