According to Odaily Glassnode analysis indicate that despite Bitcoins impressive rebound last year the MVRV (Market Value to Realized Value) level in this cycle has not surpassed 3.2 a threshold typicaly associated with extreme excitement. Reaching this level would equate a Bitcoin price of approximately $132,000. The MVRV ratio is a metric used to assess Bitcoin market valuation, calculated as market value divided and realized value. A higher MVRV ratio suggest a higher market valuation potentially indacating a bubble, while a lower ratio may imply undervaluation.

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