Euphoria Zone
What Is Euphoria Zone?
A composite indicator combining multiple pricing models to identify when Bitcoin has entered an unsustainably euphoric phase. Triggers when multiple independent models simultaneously signal overvaluation.
How to Interpret
When the Euphoria Zone is triggered, historically it has been an effective signal to begin taking profits. Not a precise top indicator, but marks the high-risk zone of a cycle.
More Pricing Models Metrics
AVIV Ratio
Active Value to Investor Value — a refined version of MVRV that adjusts for active supply and investor behavior. Provides a cleaner signal of market valuation by filtering out dormant and lost coins.
True Market Mean
An enhanced version of the Realised Price that adjusts for lost coins and very old UTXOs. Provides a more accurate representation of the active market's aggregate cost basis.
NUPL
Net Unrealised Profit/Loss — measures the total profit or loss of all Bitcoin holders as a proportion of market cap. Calculated as (Market Cap - Realised Cap) / Market Cap.
NVT Price
Network Value to Transaction Price — derived from the NVT ratio, this metric estimates a fair value for Bitcoin based on its on-chain transaction volume, similar to using P/E ratios to value stocks.