Chart
Bitcoin on-chain metric
MVRV Z-Score
Updated: 2026-06-30 02:10 UTC
Metric context
MVRV Z-Score
Definition
Definition
MVRV Z-Score standardizes the gap between Market Cap and Realized Cap relative to historical market-cap volatility.
How to read it
Reading context
This metric is used to read valuation extremes. Elevated values suggest overheated valuation, while deeply compressed values have historically appeared near major cycle lows.