TechFlow reports on March 5, according to IntoTheBlock data, Ethereum's Market Value to Realized Value (MVRV) ratio touched 1.01 yesterday—the lowest level since October 2023, when Ethereum traded slightly below $1,600.
IntoTheBlock analysis notes that the MVRV indicator helps identify market tops and bottoms. Ratios around 1.01 have historically marked local bottoms, though such low levels are rarely seen during bull markets. Typically, the MVRV indicator drops to this level during bear markets, and may even fall below 0.70 at deeper cycle lows.




