IntoTheBlock: Ethereum's MVRV has dropped to 1.01, hitting a new low since October 2023, usually marking the local bottom
Bitget2025/03/05 12:32
The Ethereum MVRV index touched 1.01 yesterday, the lowest level since October 2023 when the ETH trading price was slightly below $1600. The MVRV can be used to identify market tops and bottoms. Historical data shows that around 1.01 usually marks a local bottom, but such low values are rare during bull markets. Typically, this indicator drops significantly in bear markets and may even fall below 0.70 at deeper cycle lows.
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