Bitcoin On-chain Signals – MVRV, NUPL, SOPR
Key Bitcoin on-chain indicators with plain explanations. Green means accumulation, red means distribution.
Demo data
MVRV2.558elevated
NUPL0.5631elevated
SOPR1.0591elevated
Realized Price$59,662
Puell Multiple1.061neutral
MVRV (90 days)
NUPL (90 days)
SOPR (90 days)
Realized Price (90 days)
Puell Multiple (90 days)
Indicator explanations
MVRV
MVRV compares market cap to realized cap: above 3 signals overheating.
NUPL
NUPL shows the share of profitable coins: above 0.75 is overheated, below 0 is a bottom.
SOPR
SOPR above 1 means coins are sold at profit, below 1 at a loss.
Realized Price
Average purchase price across all coins: trading above it is historically bullish.
Puell Multiple
Puell Multiple compares miner revenue to the yearly average: extremes align with market tops and bottoms.