An on-chain valuation metric comparing market value to realised value to spot cycle extremes.
Realised value prices every coin at the time it last moved, approximating the market’s aggregate cost basis. Z-scores above ~7 have marked cycle tops; below 0, generational bottoms.
The Bitcoin cycle dashboard plots MVRV Z-Score next to NUPL, Puell Multiple and realised price, summarised into a single cycle gauge.
Loading the live RadarDeFi dashboard…