Bitcoin's MVRV Ratio Dominance Streak Reaches Record 812 Days

Bitcoin's dominance over Ethereum in key metrics has continued to grow, according to data released by on-chain analytics firm Glassnode. The Market Value to Realized Value (MVRV) ratio, which measures investor profitability, has remained significantly higher for Bitcoin than Ethereum since November 2022.

The MVRV divergence between the two assets is now at a record 812 consecutive days, indicating sustained investor preference for Bitcoin. This disparity in capital inflows between the two assets partly explains why they have experienced diverging performance since 2023.

BTC has attracted approximately $468 billion in capital inflows since November 2022, compared to just $61 billion for Ethereum. While both assets have experienced declines, Ethereum has suffered more substantial losses, pushing its MVRV ratio below 1, indicating that investors are now underwater on average. In contrast, Bitcoin holders remain in profit territory despite the correction.