Unrealised MVRV Zscore Ribbon MVRV Zscore Ribbon
Bitcoin
The MVRV Z-Score expresses how far Bitcoin's market value has stretched above or below its realized value, standardized into standard-deviation units.
Why it matters
It identifies periods of extreme over- or under-valuation relative to the aggregate cost basis of the entire supply.
How it is built
Market cap minus realized cap is divided by the standard deviation of market cap, yielding a Z-Score; the ribbon overlays smoothed variants to show trend.
What to watch
Historically, Z-Scores above roughly 7 have marked cycle tops and values below 0.1 have marked bottoms, making it one of the most reliable long-horizon valuation extremes.
Related metrics
- Unrealised MVRV All Zscore MVRV All Zscore
- Unrealised MVRV STH Zscore MVRV STH Zscore
- Unrealised MVRV LTH Zscore MVRV LTH Zscore
- Unrealised MVRV AVIV Zscore MVRV AVIV Zscore
- Unrealised MVRV AVIV Zscore 365 MVRV AVIV Zscore 365
- Unrealised Histogram Bullbear MVRV Zscore Histogram Bullbear MVRV Zscore
- Unrealised Histogram Bullbear MVRV STH Zscore Histogram Bullbear MVRV STH Zscore
- Unrealised Histogram Bullbear MVRV LTH Zscore Histogram Bullbear MVRV LTH Zscore