$BTC
This chart compares the Market Cap (current valuation) with the Realized Cap (the average price at which Bitcoin was last moved or purchased).
đą Green Line: MVRV Z-Score (indicator of whether Bitcoin is âexpensiveâ or âundervaluedâ)
đ Orange Line: Bitcoin Price
đ« The Market Has Not Reached Its Peak Yet (No Euphoria Phase)
Historically, bull market tops occur when the Z-Score surges into the upper band â typically above 6.00 or even 10.00 (e.g., 2013, 2017, early 2021).
Currently, despite BTC trading near new all-time highs ($80Kâ$100), the Z-Score is only around 1.00â2.00.
⥠This means the market is not overheated and BTC is not extremely overvalued based on historical standards.
đ Healthier & More Sustainable Growth
On the right side of the chart, price (đ ) rises aggressively, but MVRV (đą) does not spike to previous cycle extremes.
This indicates Realized Cap is increasing, meaning new buyers are entering at higher price levels.
đĄ The current rally is driven by real demand and capital inflow, not just speculative mania.
đ More Upside Potential Ahead
Historically, Bitcoin typically enters major corrections or marks bull-market endings only after the Z-Score touches the red overvaluation zone.
Since the Z-Score is still relatively low, there is still theoretical room for further upside before BTC reaches exhaustion.
𧱠Bottom Detection (Strong Accumulation Zones)
Whenever the green line dips near or below 0, it signals prime accumulation levels or cycle bottoms
(đ late 2018 and đ late 2022).
đą These moments have historically been the best opportunities to accumulate BTC.
#dyor
#nfa
