Memes

Bitcoin price has had a strong performance this year as it jumped by 120%, beating popular assets like the Nasdaq 100 and the S&P 500 indices. 

Bitcoin has retreated to $97,000 from the all-time high of $108,427 after the Federal Reserve pointed to just two interest rate cuts in 2025.

MVRV score shows Bitcoin price is still cheap
The recent Bitcoin pullback affected investors, as evidenced by spot ETF flows.

According to SoSoValue, these funds had net outflows of $276 million on Friday, a day after they shed $680 million in assets. That was a sign that some investors believe that Bitcoin may have topped.

Still, the Market Value to Realized Value indicator hints that Bitcoin price is still cheap even after moving to a record high last week.