The Bitcoin Layer

Bitcoin Is In A Classic BULL MARKET with Checkmate

10 snips
May 23, 2024
Guest
James Check (Checkmate)
Bitcoin on-chain analyst James Check (Checkmate) discusses realized price, MVRV, and bitcoin market analysis. He presents on-chain charts signaling a classic bull market. Nik shares bullish thoughts on bitcoin's maturation.
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INSIGHT

Realized Price Explained

  • Realized Price reflects Bitcoin's on-chain cost basis, calculated by valuing each coin at its last transaction price.
  • It's a more accurate measure of invested capital compared to market cap, which includes lost coins.
INSIGHT

Understanding MVRV

  • MVRV, the ratio of market price to realized price, indicates market profitability.
  • High MVRV signifies unrealized profit and potential sell pressure, while low MVRV suggests potential undervaluation.
INSIGHT

MVRV and Market Psychology

  • MVRV reflects market sentiment, influencing behavior: high MVRV can trigger profit-taking, while low MVRV often leads to seller exhaustion.
  • Sharp MVRV changes around a cost basis indicate market sensitivity and potential inflection points.
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