Data shows Bitcoin is currently nearing two notable on-chain price levels. Here’s what happened the last time BTC broke above them.
Bitcoin Is Approaching Vaulted Price & MVRV +1SD Currently
In a new post on X, Glassnode leads on-chain analyst Checkmate points out that BTC has been near two on-chain price levels recently. The first of these levels is the “MVRV +1SD.”
The Market Value to Realized Value (MVRV) ratio is a famous indicator for Bitcoin. In short, it compares the value that BTC holders are currently carrying (that is, the market cap) against the value they put into the cryptocurrency (the realized cap).
This metric is generally used to determine the scale of profit or loss that the market as a whole is carrying right now. Based on this, the fairness of the coin’s price may be judged.
In the context of the current discussion, the +1 standard deviation (SD) of the MVRV ratio from its mean is of relevance. More specifically, the price level at which the
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