📉 Bitcoin Over $100K, But Still Far From Bubble Territory — MVRV Ratio Says So!
While Bitcoin is now comfortably trading above $100,000, on-chain data suggests that the market may have room to run before things get overheated.
🔍 Zooming In: The MVRV Ratio Tells the Story:
Current MVRV Ratio: 2.25
Historical Peak MVRVs: 3.5+ (in 2017), 4.2+ (in 2021)
Even with the long-term downward drift in the MVRV trendline, today’s number is well below what we’ve seen at cycle tops.
🧠 What Does This Mean?
The Market Value to Realized Value (MVRV) ratio compares Bitcoin’s current market cap to its realized cap (aggregate cost basis of all coins). A high ratio historically indicates overheated conditions and cycle tops — but 2.25 is modest in comparison.
🚀 BTC Price: Over $105,000
❄️ MVRV Suggests: Market not yet overheated
📉 Cooling Signs? Not yet — data still points to upside potential
⚠️ Why It Matters:
Retail FOMO hasn’t kicked in yet
Institutional flows are steady, not euphoric
The metric hints that Bitcoin may still be in the middle innings of the bull cycle, not near the end
If MVRV climbs above 3.0+ while price pushes new all-time highs, then we may begin flashing red. But for now? It’s a healthy market with strong fundamentals and a ton of on-chain room to grow.
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