Cointime_MVRV
Tech spec
| Field | Value |
|---|---|
| API name (slug) | cointime_mvrv |
| Group | cointime statistics |
| Unit / Valuetype | ratio / other |
| Shape | scalar |
| Resolutions | block, h1, h4, h8, h12, d1 |
| Endpoints | /v2/cointime_statistics |
| Tier | 0 |
| Last updated | 2025-08-25 18:30 UTC |
| Docs | Open in Swagger |
Brief Description: Ratio of Bitcoin’s Market Cap to Cointime Cap, reflecting unrealized profit or loss.
Cointime_MVRV is a time-and-volume weighted variant of the classic Market Value to Realized Value (MVRV) Ratio. It is based on the Cointime Economic framework.
Interpretation Cointime_MVRV is particularly useful for identifying market trends and turning points. For instance, when the ratio is around 1.0, it suggests that the market price is in equilibrium with the network's cointime- and volume-weighted valuation. A higher ratio might indicate that the market is overvalued (suggesting unrealized profits), while a lower ratio could point to undervaluation (indicating unrealized losses).
Advanced Explanation Cointime_MVRV reflect the ratio between the Market Cap and the Cointime Cap of Bitcoin. A value of 1.0 in the Cointime MVRV Ratio indicates an equilibrium between the market price and this time-and-volume weighted lower bound valuation model. This ratio provides a nuanced understanding of the market's valuation state, especially in comparison to traditional valuation models.
Cointime_MVRV = Market Cap / Cointime Cap
or
Cointime_MVRV = Spot Pric / Cointime Price
Cointime Economics is a new framework for Bitcoin onchain analysis published by James Check and David Puell. References: https://ark-invest.com/white-papers/cointime-economics/ and https://insights.glassnode.com/introducing-cointime-economics/