MVRV Quantile Bands
Bitcoin
This chart plots MVRV against bands set by its own rolling percentiles rather than against fixed thresholds.
Why it matters
It asks whether the current reading is extreme for this market, not whether it clears a number chosen years ago when the asset behaved differently.
How it is built
Market value divided by realized value, with upper and lower bands drawn at rolling quantiles of that ratio's own history.
What to watch
MVRV's absolute peaks have fallen with each cycle as the market matured, so a fixed overvaluation line that fired in an early cycle can sit permanently out of reach in a later one. Percentile bands move with the distribution and keep the signal comparable across eras.