Unrealised MVRV All MVRV All
Bitcoin
The MVRV Ratio divides Bitcoin's market value by its realized value — the aggregate price at which all coins last moved.
Why it matters
It measures whether the market as a whole is trading above (overvalued) or below (undervalued) the average cost basis of all holders.
How it is built
Market capitalization is divided by realized capitalization, where realized cap prices each coin at the value it last transacted on-chain.
What to watch
MVRV above 1 means the average holder is in profit; below 1 means underwater. Historically, high extremes mark cycle tops and readings under 1 mark deep-value accumulation bottoms.
Related metrics
- Unrealised MVRV Unrealisedpnl MVRV Unrealisedpnl
- Unrealised MVRV Triple MVRV Triple
- Unrealised MVRV STH MVRV STH
- Unrealised MVRV Momentum MVRV Momentum
- Unrealised MVRV LTH MVRV LTH
- Unrealised MVRV Gradient All MVRV Gradient All
- Unrealised MVRV Bycycle MVRV Bycycle
- Unrealised MVRV All Zscore MVRV All Zscore