Bitcoin's MVRV-Z Score Fails to Mark a Bear Market Bottom for the First Time
- —MVRV-Z stayed positive at the June 2026 low, breaking its historical pattern
- —The indicator fell below zero at cycle bottoms in 2015, 2018 and 2022
- —J.P. Morgan tied volatility to delays and reversals in Trump's tariffs
- —Traders are advised to pair MVRV-Z with macro, liquidity and structure data
Why it matters: A key on-chain bottom signal has stopped working, making cycle-based entry timing harder for investors.
Source: Coin Edition