This morning I pulled BTC's latest on-chain snapshot from a data API I keep bookmarked. Two of the core readings are pointing in opposite directions, and that split is the interesting part.
MVRV (market value versus realized value) sits at 1.512. Anything above 1 means most holders are in profit, while above 3.5 is classic bubble territory. At 1.51 BTC is in the optimistic but not crazy band, with realized price parked near 52,734 dollars, so the average coin is up roughly 51 percent on cost.
Then Puell Multiple reads 0.952, flagged undervalued. Puell compares the daily value of new supply against its one year average. Below 1 means miners' output is worth less than the norm, which is historically a discount zone.
So one signal says priced for optimism, the other says still a discount. I am not pasting the full series or my exact crossover rules here. Pull the data and judge for yourself.
The endpoint is free on the anonymous tier: 1000 calls a month, no wallet needed. Bind a wallet and it jumps to 5000.
Try it:
curl -s -H 'X-Anonymous-Id: devto-reader' https://agentdatum.com/api/v1/d/processed-mvrv
Data endpoint: https://agentdatum.com/api/v1/d/processed-mvrv
Developer entry: https://agentdatum.com/seo/developers.html
This post was drafted with AI assistance.
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