Long-term holder MVRV is 1.32, meaning holders who bought earlier remain in aggregate profit. Short-term holder MVRV is 0.96, meaning recent buyers are slightly underwater on average.
Historically, when MVRV exceeds 3.7, markets have shown euphoria and often reversed. Bitcoin's 1.24 reading is well below that level, suggesting room for continued accumulation.
Bitcoin dropped to MVRV 0.84 during its 2026 crash from $69,000 to $15,500, showing peak despair. The recovery to 1.24 suggests stabilization, not yet a new bull phase.
MVRV shows valuation context but doesn't time the market. Use it alongside spot volume, ETP flows and technical levels to confirm whether recovery is building or weakening.
Read More →