Bitcoin Consolidates Near $103,529 Amid 22.62% Weekly Gain

Prominent crypto analyst Ali Martinez has identified key Bitcoin (BTC) price levels using the MVRV extreme deviation pricing bands model. The premier cryptocurrency has been consolidating between $101,000 and $104,000 for most of the week, despite news of a 90-day tariff pause between the US and China.

The Bitcoin MVRV extreme deviation bands are statistical tools based on standard deviations of the MVRV ratio from its historical mean. These bands help identify extreme overvaluation and undervaluation in the Bitcoin market, making them useful for determining resistance and support levels. According to the chart presented by Ali Martinez on May 16, Bitcoin’s next major resistance lies at $116,901, which aligns with the +1σ (standard deviation) MVRV band. A price break above this level would indicate a risky overvaluation of BTC’s price and an overheated market, suggesting potential for profit-taking.

On the other hand, the premier cryptocurrency’s immediate support is around $98,131, represented by the 0.5σ MVRV band. A sustained price action above this level would indicate that Bitcoin remains in a bullish valuation zone. Conversely, a price break below this level would suggest cooling momentum or open the door to deeper retracements. The mean MVRV band stands at $79,361 and serves as a fair value anchor. If BTC prices fall to this level, it would present the ideal accumulation opportunity for a potential market rebound. However, price falls to lower MVRV bands at -0.5σ ($60,590) and -1σ ($41,820) would indicate bearish retracements and cycle bottoms, respectively.

Martinez’s MVRV pricing bands chart also shows that Bitcoin’s realized price currently stands at $45,504. With the current market price, this data suggests that the average BTC investor is sitting on significant unrealized gains potential as high as 120%. At the time of writing, Bitcoin trades at $103,529 following a 0.87% decline in the last 24 hours and 0.10% in the past week amidst the ongoing market consolidation. However, the premier cryptocurrency is up by 22.62% in the past week as bullish forces remain dominant. Presently, Bitcoin’s next resistance lies at the $105,000, a convincing price close above which could spur a further rise to the current all-time high around $109,000. If BTC successfully breaks through both resistance levels, it would enter price discovery territory, potentially accelerating gains toward the projected target around $117,000.