If the MVRV z-score for Bitcoin rapidly increases while ETFs and digital asset treasuries stall or reverse, it suggests potential froth due to a lack of strong institutional buying.
"So how do we read the zed score in practice right now? Well, if the Z score starts ripping higher quickly while ETFs and DATs are stalling or reversing, that smells like froth, that would mean the price is going up without the strong bid from big players that BTC has been enjoying this cycle."
