On-chain metrics provide insights into Bitcoin's network health, holder behavior, and market cycles.
MVRV Ratio
1.42
Fair Value Zone
Puell Multiple
0.85
Below Average
Reserve Risk
0.0021
Attractive Zone
SOPR
0.98
Near Break-Even
MVRV < 1.5
Undervalued
MVRV 1.5 – 3.0
Fair Value
MVRV > 3.0
Overvalued
Puell < 1.0
Miner Stress
Puell 1.0 – 2.0
Normal
Puell > 2.0
Market Top Risk
Risk < 0.005
High Confidence
0.005 – 0.02
Neutral
Risk > 0.02
Overheated
SOPR < 1.0
Capitulation
≈ 1.0
Break Even
SOPR > 1.0
Profit Taking