The MVRV Cross Index is a very valuable metric that you have to pay for viewing its data.
MVRV is the ratio between market cap and realized cap. Market capitalization is calculated by multiplying the BTC market price by the total supply of BTC. Realized capitalization is determined by multiplying the BTC Realized price by the realized total supply of BTC (excluding hibernated BTC that has not moved).
The blue line is the MVRV of long-term held BTC. The pink line is the MVRV of short-term held BTC. When these lines get closer to each other, there will be more chances for BTC to form a long-term bottom.
The 3 green zones are places where BTC long-term bottoms were generated when these 2 lines approached each other. A new BTC long-term bottom is possibly created since the two MVRV lines are meeting each other.
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