Metric name: MVRV Z-Score
Chart:
API: https://chainmetrics.com/api/m34_mvrv_z_score?apikey=[YOUR-API-KEY-HERE]
Metric description: The MVRV Z-Score is used to assess when Bitcoin is over/undervalued relative to its "fair value". When market value is significantly higher than realized value, it has historically indicated a market top, while the opposite has indicated market bottoms. Technically, MVRV Z-Score is defined as the ratio between the difference of market cap and realized cap, and the standard deviation of all historical market cap data, i.e. (market cap – realized cap) / std(market cap).
Chart:
API: https://chainmetrics.com/api/m34_mvrv_z_score?apikey=[YOUR-API-KEY-HERE]
Metric description: The MVRV Z-Score is used to assess when Bitcoin is over/undervalued relative to its "fair value". When market value is significantly higher than realized value, it has historically indicated a market top, while the opposite has indicated market bottoms. Technically, MVRV Z-Score is defined as the ratio between the difference of market cap and realized cap, and the standard deviation of all historical market cap data, i.e. (market cap – realized cap) / std(market cap).