Analysis: If Bitcoin MVRV reaches 3.2, its price will rise to about $132,000

Glassnode analysis shows that despite Bitcoin's impressive rebound last year, the MVRV level in this cycle has not yet reached above 3.2 (a typical threshold for extreme excitement). If Bitcoin reaches this level, it will be equivalent to a price of about $132,000. Note: MVRV (Market Value to Realized Value) is an indicator to measure the valuation of the Bitcoin market. The calculation method is MVRV = market value/realized market value. The higher the MVRV ratio, the higher the market valuation, and there may be a bubble; the lower the MVRV ratio, the lower the market valuation, and there may be underestimation.