Bitcoin MVRV Z-Score Indicates Market Stuck Between Accumulation and Euphoria
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Dec 26 2025- Market Valuation State: Bitcoin's MVRV Z-Score is currently positioned in a clearly defined middle zone, indicating a balanced market state as it is neither at extreme undervaluation levels associated with deep bear markets nor at euphoric peaks.
- Historical Cycle Comparison: The analysis reveals that the current Z-Score has not expanded into upper bands typically associated with speculative excess and macro exhaustion, suggesting Bitcoin has moved beyond deep discount territory but has not yet entered statistically overheated conditions.
- Bull and Bear Market Demarcation: The color-coded zones visually separate bull and bear regimes, indicating that sustained bull trends in past cycles often unfolded while the Z-Score remained elevated yet contained, with the current oscillation within a defined mid-range reinforcing a mature valuation environment.
- Market Signal Analysis: Although the current valuation signal shows no signs of extreme distribution pressure or clear evidence of renewed valuation expansion, it reflects a market characterized by balance rather than strong directional conviction, highlighting Bitcoin's nuanced position between accumulation and euphoria.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
