The bottom was in although a bull run might not start soon

The-bottom-was-in-although-a-bull-run-might-not-start-soon

If we look at the MVRV during the past two cycles, every time it went above 1 after a market crash it never went back down below 1. 

So far BTC has rallied around 35% from the bottom. Still a fantastic price to buy for the long-term if you haven't bought any (I have at 18-22k). The next resistance is at 27k and 30k. Expect a slow rally or sideways movement around 27-30k or 22-27k. Unless the Nasdaq and S&P 500 went lower than the previous bottom, bitcoin will not go lower than 17-18k.