MVRV-Z Score

The MVRV-Z Score compares market value and realized value to assess when an asset is overvalued or undervalued.

Indicator Overview
The MVRV-Z Score is used to assess when an asset is overvalued or undervalued relative to its "fair value", as underlined by the deviation between its market cap and realized cap.
When market value is significantly higher than realized value, it has historically indicated a market top (red zone), while the opposite has indicated market bottoms (green zone).
​View MVRV-Z Score in Glassnode Studio​
​View MVRV-Z Score in Glassnode API Docs​
How is it measured?
MVRV-Z Score is defined as the ratio between the difference of market cap and realized cap, and the standard deviation of market cap.
MVRV-Z Score=Market Cap - Realized CapStandard Deviation (Market Cap)\begin{align*} \textrm{MVRV-Z Score} &= \frac{\textrm{Market Cap - Realized Cap}}{\textrm{Standard Deviation}~{\color{gray}{\textrm{(Market Cap)}}}} \end{align*}MVRV-Z Score​=Standard Deviation (Market Cap)Market Cap - Realized Cap​​
About
Created By
​Awe_andWonder​
Date Created
October 2018
Further Resources
Awe & Wonder - Introducing … The Bitcoin “MVRV Z” Metric That Predicts Market Tops with 90%+ Accuracy​

MVRV Ratio

LTH-MVRV

Last modified 8mo ago