MVRV Z-Score
MVRV expressed in standard deviations: (market cap - realized cap) / stddev(market cap). Normalizing by market cap's own historical volatility makes extremes more comparable across cycles than the raw MVRV ratio.
Score over time
Every reading in MVRV Z-Score's history, on the same 0–10 scale. The last 4 months are for signed-in users.
Scored 0–10 by an expanding (no-lookahead) percentile rank against MVRV Z-Score's full history — the same methodology behind Alphabit's composite Risk Model. A score of 7 means this indicator is currently higher than 70% of every reading it has ever produced.
One indicator is never the call.
The Risk Model reads this factor alongside seventeen others, weighted, into a single weekly score.
Not financial advice. Backtested behaviour is in-sample and illustrative — see the disclosure. How the model works is documented on the methodology page.