MVRV
Bitcoin's Market Value to Realized Value ratio - a valuation metric, not a signal.
1.561 · 41st percentile
Interpretation
Above 3.5 has preceded every prior BTC cycle top; below 1.0 has marked capitulation lows. Currently between those historical extremes.
MVRV compares BTC's market cap to its realized cap (the value of every coin priced at when it last moved on-chain). It approximates the average cost basis of all holders - a rough read on how much unrealized profit or loss the market as a whole is sitting on.
History
How this feeds the Read
Feeds the Read's valuation module directly - one of its core drivers.