2026-02-16 14:06:27

Bitcoin's MVRV Z-Score has reached 0.239, marking its highest level in the past seven months, according to data tracked by Glassnode and reported by ChainCatcher.

The MVRV Z-Score is a key on-chain metric that measures Bitcoin's valuation relative to its actual transaction value. It's calculated using the formula: MVRV Z-Score = (Market Cap - Realized Cap) / Standard Deviation, where Realized Cap represents the aggregate value of Bitcoin based on when each coin last moved on-chain.

This metric serves as a valuation compass for investors. When the Z-Score climbs to elevated levels, it signals that Bitcoin's market cap may be stretched compared to its intrinsic, on-chain realized value—suggesting potential overvaluation. Conversely, lower readings indicate that the asset could be underpriced relative to its actual network value, presenting possible accumulation opportunities.

With the MVRV Z-Score now hitting a seven-month peak, traders are closely monitoring whether this signals extended upside or a sign of frothy market conditions worth watching.

BTC-0,35%

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