It's a derivative of Realized Cap, created by @nic__carter & @khannib.
The top may feel like the distant future, but at some point you'll have to prepare for it.
If that includes you, then you might want to ride this train.
MVRV: charts.woobull.com/bitcoin-mvrv-r…
Gratitude to @woonomic for hosting this treasure...and for everything else you do.
All four BTC bull runs crashed ~80% afterwards -- all were massive *local* bubbles.
Big picture, BTC is not a bubble in any way, IMHO. It's the future.