Why is Bitcoin MVRV Z-Score approaching the zero axis? Analysis of the accumulation range on June 21. 2026

Bitcoin MVRV Z-Score is falling from the recent high to around 3.5, and is accelerating closer to the zero axis, a key on-chain support level. Historically, a break below the zero line has often corresponded to a reset at the bottom of the four-year cycle, and can bring about a long-term accumulation window that can last for several months. Chapters: 0:00 Bitcoin MVRV Z-Score approaches the zero axis 0:26 MVRV Z-Score underlying logic 1:06 Historical cycle peaks and troughs 1:45 Silent position building period below the zero axis 2:25 Current indicators fall back to around 3.5 3:05 Silent investment and the four-year cycle 3:44 On-chain data and strategic allocation range - MVRV Z-Score measures the value deviation of Bitcoin by "circulating market capitalization minus realized market capitalization, divided by the standard deviation of circulating market capitalization". - Narrative data shows that the peak value of the indicator at the top of the cycle decreased gradually from close to 10 in 2013, to about 7 in 2021, to about 3 in the last cycle. - In terms of historical bottom, it was below the zero axis for about 12 months from 2014 to 2015, about 5 months from the end of 2018 to April 2019, and about 6 months from June 2022 to the beginning of 2023. - The current MVRV Z-Score is about 3.5. The narrative believes that the market bubble has been squeezed and the indicator is returning to the zero-axis support. Subscribe to Pure Trading and continue to track the indicators, cycle structure and long-term allocation opportunities on the Bitcoin chain. #Bitcoin #MVRVZScore #On-Chain Indicator #BTC #Four-Year Cycle This video is for informational purposes only and does not constitute any investment advice. Investment is risky, so be cautious when entering the market.