Bitcoin’s recent price action has been nothing short of exhilarating, but beyond the market buzz lies a wealth of on-chain data offering deeper insights. By analyzing metrics that gauge network activity, investor sentiment, and the BTC market cycles, we can gain a clearer picture of Bitcoin’s current position and potential trajectory.

Plenty Of Upside Remaining

The MVRV Z-Score compares Bitcoin’s market cap, or price multiplied by circulating supply, with its realized cap, which is the average price at which all BTC were last transacted. Historically, this metric signals overheated markets when it enters the red zone, while the green zone suggests widespread losses and potential…

Read more on BitcoinMagazine