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Bitcoin Valuation

MVRV · NUPL · Realized Price · charts.blockhorizon.io · 2Y

MVRV

1.5844
high 6.00 (11/18/2013) · low 0.55 (1/14/2015)
bear bottom 0.80bull top 3.70

NUPL

0.36651
high 0.833 (11/18/2013) · low -0.815 (1/14/2015)
bear bottom 0.000bull top 0.720

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.