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What it measures

MVRV ratio standardized as a Z-score — how many standard deviations current MVRV is from its historical mean

How to interpret it

Detects cycle extremes. Rising far above mean = market cap unusually high vs. aggregate cost basis (top zone). Crossing below 365-day MA = upward trend losing momentum.

Key thresholds

Z-score crossing below 365D MA = key bearish signal (sharp correction or start of bear market); Deep negative Z-score = extreme undervaluation near bear bottoms; Crossing above mean from below = early bull confirmation

How to use it

Most powerful combined with other valuation metrics. Z-score below 1-year MA while Bull Score < 40 = high-conviction bear signal. Z-score crossing above trend during Bull Score recovery above 40 = bull cycle confirmed.

Run this metric in CryptoQuant Analytics

Authorizations

Authorization
string
header
default:Bearer <YOUR_API_KEY>
required

For each API request, include the Authorization HTTP header with Bearer <YOUR_API_KEY>.

Query Parameters

window
string
default:day

Time interval for aggregation.

from
string

Starting time, formatted as YYYYMMDDTHHMMSS (UTC). If window=day, YYYYMMDD is also accepted.

to
string

Ending time, formatted as YYYYMMDDTHHMMSS (UTC). If window=day, YYYYMMDD is also accepted.

limit
integer
default:100

Maximum number of data rows to return. Ranges from 1 to 10,000.

Required range: 1 <= x <= 10000

Response

200 - application/json

Bitcoin price valuation

status
object
required

Returned with every response; indicates whether the request was successful.

Example:
result
object
required