Loading article…
CryptoQuant provides on‑chain data like MVRV ratios and weekly reports used to gauge Bitcoin and Ethereum market health; see its latest metrics and where to
CryptoQuant’s on‑chain analytics flagged that Bitcoin’s market‑value‑to‑realized‑value (MVRV) Z‑score remains above the negative zone that historically signals a bottom, while Ethereum’s MVRV ratio has slipped to roughly 0.65, indicating cheaper valuation relative to Bitcoin【3】.
| At a glance | |
|---|---|
| Platform | CryptoQuant on‑chain analytics |
| Core metric (BTC) | MVRV Z‑score above zero (no “iron bottom” yet)【4】 |
| Core metric (ETH) | MVRV ratio ~0.65, 17% below realized price【3】 |
| Weekly output | “Quicktake” blog and weekly reports cited by media【3】【4】 |
CryptoQuant tracks the market‑value‑to‑realized‑value (MVRV) ratio for both Bitcoin and Ethereum, a key gauge of whether a token is over‑ or undervalued. For Bitcoin, the platform notes that the MVRV Z‑score has cooled but has not entered the negative, “undervalued” zone that preceded past bear‑market bottoms, such as the 2022 dip【4】. For Ethereum, the latest data show the MVRV ratio has retreated from earlier overvaluation levels to about 0.65, a figure historically associated with market bottoms when ETH trades below its realized acquisition cost【3】.
CryptoQuant’s numbers are regularly quoted in market commentary. Its weekly “Quicktake” blog set a $55,000 “iron bottom” target for Bitcoin based on the MVRV Z‑score trend, while its ETH analysis highlighted two of five bottom‑indicating metrics reaching historical reversal levels, though three remain pending【3】【4】. Analysts also reference CryptoQuant’s exchange‑flow and staking figures: for example, a record 34% of ETH’s circulating supply is now staked, a factor that can ease short‑term selling pressure【3】.
The platform’s metrics tie directly to on‑chain activity. Ethereum’s price sits roughly 17% below its realized price of about $2,300, a gap that historically aligns with undervaluation periods【3】. Meanwhile, Bitcoin’s MVRV Z‑score, which compares market cap to realized cap and normalizes by standard deviation, remains in a “cooling” phase rather than the deep negative values seen at previous bottoms【4】.
CryptoQuant’s data underscore that while Bitcoin’s valuation metrics suggest a market still above historic bottom levels, Ethereum appears closer to a potential turning point, leaving both tokens’ next moves tied to on‑chain activity rather than price alone.
Coverage is mostly measured — 143 of 149 reports stay neutral.
Every Monday — the token unlocks, Fed dates & catalysts set to move crypto and markets this week. So you’re never blindsided.
Free · 3-min read · one-click unsubscribe
AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 4 outlets · Aug 12, 2026 · How we report
On Chain Analysis is used to evaluate market trends, investor behavior, and asset valuation by examining publicly available transaction records on a blockchain. It allows participants to identify accumulation zones and potential price inflection points by tracking metrics like wallet movements and network activity.
On Chain Analysis identifies Bitcoin market trends by monitoring indicators such as the MVRV Z-Score, which measures the deviation between market and realized value, and HODL Waves, which track the age of Bitcoin holdings. These metrics help analysts determine whether the market is in a state of accumulation or if long-term holders are distributing their assets.
On Chain Analysis is not limited to Bitcoin and can be applied to other decentralized platforms, such as the prediction market Polymarket. On Polymarket, this analysis provides transparency into trading volumes and user sentiment regarding real-world events by tracking ERC-1155 tokenized shares on the Polygon blockchain.
The MVRV Z-Score is used in On Chain Analysis to measure the deviation between Bitcoin's market value and its realized value, standardized for volatility. This indicator helps identify optimal buying zones when it enters a lower range and potential overvaluation when it enters a red zone.