This One Metric Suggests Bitcoin Has Plenty of Room Left to Run
2025-07-10 09:37:36
Main Idea
The MVRV Z-Score suggests Bitcoin's current rally may have significant room for growth, as the metric indicates the market is not yet in overbought territory.
Key Points
1. Bitcoin reached new all-time highs just above $112,000, though the increase was marginal compared to previous peaks.
2. The MVRV Z-Score, which compares market value to realized value, currently sits at 2.4, indicating the market is not in the overbought 'red zone'.
3. Historically, the MVRV Z-Score has signaled market tops when the market value significantly exceeds the realized value and bottoms when it is in the 'green zone'.
4. The current MVRV Z-Score level is similar to those seen in 2015, 2019, and 2022, which were not peak levels like in 2017 and 2021.
Description
Bitcoin (BTC) reached new all-time highs just above $112,000 on Wednesday, although the increase was only marginal compared to the previous peak. Despite the wave of bullish corporate adoption, with public companies adding bitcoin to their balance sheets . On-chain data suggests that bitcoin has more room to run when compared to previous cycle highs. One useful metric in this analysis is the MVRV Z-Score, which helps evaluate whether bitcoin is overvalued or undervalued relative to what could be...
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