Bitcoin momentum turned positive on two widely watched indicators this week, ending a bearish stretch of roughly 10 months. According to AMBCrypto reports, Bitcoin's Market Value to Realized Value (MVRV) ratio turned green on October 13 at +0.07, after a red run that began in late 2025. The 2026 bear phase bottomed near -0.4, which is shallower than the roughly -0.55 troughs of 2018 and 2022. Additionally, Bitcoin's weekly moving average convergence divergence (MACD) rose above zero after 44 consecutive negative weeks, with the same flip appearing in 2019 and 2023 with very different outcomes. In 2023, it preceded a rally from roughly $25,000 to above $70,000 within a year, while in 2019, BTC briefly climbed near $13,800 before sliding below $4,000 by March 2020.
MEXC CEO Vugar Usi Zade believes Bitcoin is emerging from its bearish phase into a sustainable bull cycle, driven by growing institutional confidence and adoption. According to reports from AMBCrypto, Zade stated that the cryptocurrency market has entered a sustainable bull trend, fundamentally different from the speculative cycles of previous years. He noted that Bitcoin's price is gradually transitioning out of its bearish cycle, with the cryptocurrency reporting a 32% price recovery over the last 90 days despite sitting below its $126,000 all-time high reached on October 6, 2025. As reported by AMBCrypto, Zade believes Bitcoin could eventually reach $176,000, provided institutional demand remains elevated and wider economic conditions improve.
Bitcoin's large holders continued moving considerable amounts of BTC, supporting the accumulation story highlighted by Zade. According to Lookonchain reports, five new wallets received 1,162 BTC, worth roughly $96.77 million, from Wintermute within 12 hours. Additionally, Bitcoin had recorded $116.14 million in weekly Spot net outflows at press time, reflecting more withdrawals than deposits across exchange platforms. The weekly outflows implied reducing exchange-held supply, potentially limiting the amount of Bitcoin readily available for selling. As reported by AMBCrypto, Zade noted that large Bitcoin holders have stopped selling, and coins are now flowing en masse into long-term accumulation wallets.
Michael Saylor's MicroStrategy has achieved a record high of 848,250 BTC, worth approximately $70 billion, following a recent $21 million purchase that pushed the holdings above the previous all-time high of 847,360 BTC. According to AMBCrypto, Saylor noted in a Bloomberg interview that "we're at the beginning of the bull market" and believes the market is transitioning from restrictive trade and monetary policies to favorable regulatory environment, banking adoption, and tokenized securities. The Strategy founder expressed confidence that Bitcoin could hit six figures again above $100K, though he cautioned that the pace of corporate Bitcoin purchases may be slowing compared to previous expenditure on STRC buybacks.
Bitcoin's Spot ETFs recorded $175.69 million in daily net inflows at reporting time, with cumulative ETF net inflows hitting $57.68 billion while total ETF assets stood at $109.03 billion. The daily ETF trading volume had reached $2.36 billion, suggesting improved activity across the regulated investment products. According to AMBCrypto, Zade identified $80,000 as a crucial institutional cost basis, arguing that established investors had reinforced that level as Bitcoin's underlying support. The executive also noted that institutional market players were becoming majorly influential in Bitcoin's market structure.
Bitcoin's overall demand has recovered from deep negatives in late September to neutral in mid-October, with the cryptocurrency holding onto part of its +40% gains from July's lows of $57.8K to over $87K. As reported by AMBCrypto, Saylor believes that "when the AI trade is over, capital will rotate to scarce assets such as real estate, gold, and Bitcoin." The corporate accumulation remains significant, with 60 publicly traded companies collectively holding 1.27 million BTC, valued nearly $105.53 billion. According to CryptoQuant's Analyst Consensus Index, the bullish share rose from 37% to 84% over the period from July 2 to October 13, while the index climbed from -18.3 to +49.2, though price has not kept pace with the optimistic sentiment.
