Bitcoin's MVRV Z-Score Approaches 0.24, Nearing Historical Bear Market Bottom on June 8

BTC0.42%
According to BlockBeats, Bitcoin's MVRV Z-Score approached 0.24 on June 8, nearing the historical bear market bottom zone following last week's significant market decline. The indicator, which measures the deviation between Bitcoin's market value and realized value, has historically reached near-zero levels during bear market bottoms in 2011–2012, 2014, 2018, and 2022, after which new uptrends began. Analysts note that short-term holders' MVRV (STH-MVRV) stood at 0.84, while long-term holders' MVRV (LTH-MVRV) remained elevated at 1.29, suggesting the market may still require further adjustment to form a typical bear market bottom.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments