MVRV shows that on a multi-year view Bitcoin still far from “overvalued” territory
It is worth keeping in mind that Bitcoin historically has undergone multiple 30%+ corrections throughout multi-year price runs such as 2013, 2017, and 2017. However, with this being said, zooming out we can see that Bitcoin remains far from overheated levels of valuation that marked cyclical peaks in 2013, 2017, and 2021. It’s worth maintaining this perspective while also understanding Bitcoin’s tendency for high volatility which includes aggressive corrections.
Bitcoin enters top 10 largest global assets by market cap
With Bitcoin’s recent price action to the upside, the leading digital asset crossed back into the top 10 largest assets by market capitalization. Breaching $800 million in market capitalization, Bitcoin surpassed the #10 slot and now sits behind other major assets such Gold at ~$14 trillion, Silver at $1.5 trillion, and Apple at $3 trillion. This reflects Bitcoin’s growing relevancy and legitimacy as a global macro asset.
Bitcoin enters top 10 largest global assets by market cap
With Bitcoin’s recent price action to the upside, the leading digital asset crossed back into the top 10 largest assets by market capitalization. Breaching $800 million in market capitalization, Bitcoin surpassed the #10 slot and now sits behind other major assets such Gold at ~$14 trillion, Silver at $1.5 trillion, and Apple at $3 trillion. This reflects Bitcoin’s growing relevancy and legitimacy as a global macro asset.
