The 1d-1m MVRV Z-Scores, we can see that this variant is less responsive to price action compared to the 24hr variant. As a result, this MVRV variant is slower to move, generates fewer signals overall, but also has less noise overall.

The chart below highlights when the MVRV Z-Score trades below the mean (negative Z-Score values), as an indicator that significant unrealized losses have transferred up to the larger 1d-1m age band.