Bitcoin Price vs MVRV Ratio

MVRV = Market Value / Realized Value. High MVRV → many holders in profit (top risk). Low / < 1 → holders at loss (value zones).

MVRV compares Bitcoin's current market valuation to its aggregate on-chain cost basis. Historically:

• MVRV < 1 has marked deep value zones where most holders are at unrealized loss.
• Elevated MVRV (> ~3–4) has often aligned with cycle tops where unrealized profits are large and long-term holders begin to distribute.

Overlaying MVRV with price helps you see how structural on-chain profitability interacts with each halving-driven cycle.