Ethereum Mvrv Z-score ((top)) Jun 2026

When the Z-Score drops below zero, it means the Market Value is lower than the Realized Value. In other words, the average investor is holding an unrealized loss, and the network is valued less than the cumulative capital invested. This is a classic indicator of a or extreme bear market sentiment, providing a high-probability buying opportunity. 3. The Neutral Zone: Z-Score between 0 and 7