Don't panic$ 76k is another solid rebound on the 40% profit line, just like the $38k in 24 years$ 49k and $52k 😏 The MVRV indicator (Market Value to Realized Value) is a commonly used on chain analysis metric in the cryptocurrency market, used to evaluate the valuation level of BTC and help investors determine whether it is overvalued or undervalued MVRV = MV / RV： Obtain a ratio by dividing the "total market value of on chain chips" by the "total purchase value of on chain chips" MVRV > 1： If the market value is higher than the purchase value, it indicates that the current price of Bitcoin is higher than the average cost for holders, which usually means that the market is in a profitable state and there may be a risk of overvaluation. If the value is too high (such as the historical 3.5 or above), it may indicate the top of the market MVRV < 1： If the market value is lower than the purchase value, it indicates that the price of Bitcoin is lower than the average cost of holders, and holders are generally losing money, usually implying that the market is undervalued and may be close to the bottom In a bull market, MVRV typically rises and reaches its peak, reflecting a surge in speculative sentiment In a bear market, MVRV will decline, even falling below 1, indicating market cooling and panic selling The MVRV in the picture is a personal modified version, which excludes BTC on the chain that has not been touched for more than 7 years as long-term dormancy or loss from the calculation This article is sponsored by Bitget | @ Bitgetzh