Bitcoin’s MVRV Ratio Surpasses Ethereum’s for 812 Consecutive Days
On-chain data indicates that the Bitcoin Market Value to Realized Value (MVRV) Ratio is at a record high compared to Ethereum.
Key Highlights
- Bitcoin's Realized Cap increased by $468 billion since November 2022, while Ethereum saw only $61 billion in inflows.
- The disparity in capital inflows has led to diverging performance, with Bitcoin reaching prices over $100k and Ethereum failing to achieve a new ATH.
- Bitcoin's MVRV Ratio has consistently outperformed Ethereum's, indicating higher unrealized profits for BTC investors.
- ETH's MVRV Ratio has declined faster than BTC’s during recent market downturns, with ETH holders now underwater (MVRV below 1).
- The difference between Bitcoin and Ethereum's MVRV Ratio has remained positive for 812 consecutive days, marking the longest streak in history.
Current BTC Price
Bitcoin is currently priced around $79,300, reflecting a decline of over 3% in the past week.