ANALYSIS: If Bitcoin's MVRV Reaches 3.2, Its Price Will Reach About $132,000

Despite Bitcoin's stellar performance last year, when its price rose sharply, the MVRV metric has yet to reach 3.2, a level that typically signifies an extremely frenzied market, in the current cycle, according to an analysis by glassnode. If Bitcoin's MVRV reaches 3.2, the price of Bitcoin would reach approximately $132,000 based on its current realized market capitalization. MVRV levels: MVRV (Market Value to Realized Value) is a measure of Bitcoin's market valuation, calculated as MVRV = Market Value / Realized Market Value, with higher MVRV ratios indicating higher valuations and possible bubbles, and lower MVRV ratios indicating lower valuations and possible undervaluations. The higher the MVRV ratio, the higher the market valuation and possible bubble; the lower the MVRV ratio, the lower the market valuation and possible undervaluation.