MAC_D2024-11-06

BTC Overheating Expected When MVRV Reaches 3

The MVRV metric, a key onchain metric of whether Bitcoin is overheating or cooling, suggests that Bitcoin has not yet entered an overheating phase and has upside potential. However, as the cycle progresses, the rate of increase tends to decrease as the market capitalization increases. Using this as a trend line, we can expect the market to overheat when the MVRV value is around 3.