What is On-chain Valuation?
A read on where BTC sits in its market cycle from on-chain data — undervalued, overvalued or neutral. Built from a blend of metrics (MVRV-Z, NUPL, Puell) — the same toolkit Glassnode/Checkonchain use. Not financial advice, but a "where are we in the cycle" gauge.
Example
MVRV-Z 0.33 + NUPL 0.17 + Puell 0.72 → jointly "undervalued" (bottom zone).