Valuation hub
Valuation Indicators
Valuation indicators try to answer a harder question than short-term price action: is Bitcoin trading rich, fair, or cheap relative to its own network history and cost basis?
Some of these models come from on-chain data, while others come from long-term price curves or heuristic bands. They are not exact timing tools, but they are useful for mapping where the market sits inside a bigger cycle.
Use this hub when you want the core valuation explainers in one crawlable place before comparing them inside the live FEELS Analytics workspace.
Explore the explainers
- MVRV Z-ScoreHighlights when market value is stretched versus realized value after adjusting for historical volatility.
- Realized PriceTracks the market’s average on-chain cost basis and often acts as a long-term reference line.
- NUPLMeasures how much unrealized profit or loss is embedded in the market at a given time.
- Mayer MultipleCompares spot price with the 200-day average so extension above trend is easier to see.
- Rainbow ChartPlaces Bitcoin inside broad logarithmic valuation bands that simplify long-cycle context.
- Stock-to-Flow ModelUses supply scarcity logic to frame how halvings may change Bitcoin’s long-term valuation regime.