Bitcoin MVRV Ratio Indicates High Market Value Without Extreme Risk
The Bitcoin Market Value to Realized Value (MVRV) Ratio is currently elevated but not in extreme territory, according to Glassnode's latest report.
Key Points on Bitcoin MVRV Ratio
- The MVRV Ratio indicates that when above 1, holders are in profit; below 1 indicates losses.
- Bitcoin has recently surpassed the +0.5 standard deviation (SD) line, positioned around $100,200.
- The critical level to watch is the +1 SD line at $119,400, which historically leads to price tops.
- Current rally remains below the +1 SD threshold, indicating potential for further gains.
- Recent price pullback sees Bitcoin at $105,900.
Market sentiment is described as heated, with room for expansion before reaching extreme unrealized profits.
