MVRV
NUPL
Realized Price
The band shows where today's reading sits between a typical bear market bottom and a bull market top; the vertical ticks are the real extremes from the available history.
MVRV (Market Value / Realized Value) – the ratio of market value to the average acquisition price of coins. Values > 3.7 have historically marked cycle tops, < 1 bottoms.
NUPL (Net Unrealized Profit / Loss) – how much unrealized profit or loss the market is holding. > 0.75 = euphoria, < 0 = capitulation.
Realized Price – the average price at which coins last moved on-chain. It often acts as the floor of a bear market.