Data: Bitcoin MVRV Z-Score indicator rises to nearly 7-month high

According to ChainCatcher, as monitored by Glassnode, the Bitcoin MVRV Z-Score (standard score) has risen to 0.239, reaching a 7-month high.

ChainCatcher Note: The MVRV-Z Score is a relative metric, MVRV-Z Score = (Market Cap - Realized Cap) / Standard Deviation (Market Cap), where "Realized Cap" is based on the value of Bitcoin transactions on the chain, calculated by summing the "last moved value" of all Bitcoins on the chain. When this metric is too high, it indicates that Bitcoin's market cap is overvalued relative to its actual value; conversely, it indicates undervaluation. (Source link)