Bitcoin MVRV Z-score Hits Record Lows, Indicating Potential Recovery
- Bitcoin’s MVRV Z-score has reached its lowest levels on a rolling two-year basis.
- The current Z-score is lower than during previous bear market bottoms in 2015, 2018, and the COVID crash of 2020.
- As of now, BTC/USD has fallen to approximately $81,040, down nearly 2% from the daily open.
- Precious metals have seen a significant sell-off, with declines of about 10-15% over the past day.
The MVRV Z-score measures the market value versus realized value of Bitcoin, indicating that BTC is currently “undervalued.” This metric’s record low suggests that Bitcoin may be nearing the end of its correction phase.
With the MVRV Z-score at its lowest since October and reflecting conditions similar to past bear markets, analysts suggest a potential price recovery for Bitcoin may be imminent. (Source)
