I've been digging into on-chain indicators lately, and one that really caught my eye is the MVRV Z-Score. For those unfamiliar, it's a metric that compares Bitcoin's market cap vs. realized cap, adjusted with standard deviation. In simple terms, it helps gauge whether BTC is overvalued or undervalued relative to historical investor behavior.

Here’s the interesting part:

    In previous market cycles (2013, 2017, 2021), MVRV Z-Score crossed 6 during peak euphoria.

    Right now in 2024/2025, it’s sitting around 2.6.

👉 This suggests we’re not in a typical blow-off top yet.
👉 Historically, this has been the zone where major altcoin rallies start to kick in.

So I’m curious...

🔹 How much weight do you give to the MVRV Z-Score when timing tops or bottoms?
🔹 Do you think we’ll see a similar pattern this cycle, or has the market matured beyond these historical signals?
🔹 Is this a time to be cautious or aggressive with alts?

Would love to hear your take. Charts, arguments, counterpoints — bring it on.