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Data / MVRV ratio / 2026
Market value divided by realised value: how far the price sits above the network’s cost basis.
MVRV ratio opened 2026 at 1.58× (January 1, 2026) and closed at 1.62× (September 21, 2026), up 2.6%. The high was 1.73× on January 14, 2026 and the low 1.10× on June 30, 2026.
| Month | Month end |
|---|---|
| January 2026 | 1.41× |
| February 2026 | 1.23× |
| March 2026 | 1.26× |
| April 2026 | 1.41× |
| May 2026 | 1.36× |
| June 2026 | 1.10× |
| July 2026 | 1.19× |
| August 2026 | 1.48× |
| September 2026 | 1.62× |
Market capitalisation divided by realised capitalisation. At 1 the average coin is worth what it last moved at; below 1 the network as a whole holds at a loss, which has marked every cycle bottom; above 3.5 the average holder sits on more than 250% and cycle tops have followed.
Other years: 2025 · 2024 · 2023 · 2022 · 2021 · 2020 · 2019 · 2018 · 2017 · 2016 · 2015 · 2014 · 2013
Also in 2026: Bitcoin price · Distance from the all-time high · 200-day and 200-week averages · Network hashrate · Mining difficulty · Difficulty adjustments · Fees paid to miners · Transactions per day · Hashprice · Miner revenue · Miner prices per terahash · Bitmain releases and the bitcoin price