MVRV Z-score — Bitcoin onchain, per block

The same comparison as MVRV, but asking how unusual today's gap is by the market's own past standards: a high value is unusually stretched, a low value unusually cheap.

Definition(market cap - realized cap) / the expanding standard deviation of market cap, over priced blocks only.

LimitThe standard deviation is measured over an expanding window, so each later cycle is scored against a longer history and peaks lower than the one before. Levels are not comparable across cycles; only the rank drawn on the cycle dashboard is.

Unitratio

Also filed under

Am I in profit Is the market above or below what holders paid for their coins?
Cycle position Where in the cycle are we, on the fifteen indicators the dashboard ranks?
MVRV price against what holders paid
NUPL how much of the market value is unrealised profit
Market cap to thermocap market value against everything miners were ever paid
Supply in profit the share of all coins worth more than they cost
Outputs in profit the share of unspent outputs worth more than they cost

Every metric · Back to the explorer