Bitcoin State

DISCOUNT

Price is below long-term trend with below-average sentiment or valuation.

DISCOUNT since 09 Apr 2026 (27 days)

Updated 06 May 2026, 15:45 UTC

Price & Trend

BTC Spot

$81,613.03

24H: 0.87%

7D: 7.73%

Price vs 200D

BELOW 200D MA

200-day moving average of price

Distance: -2.02%

200D MA: $83,296.75

Sentiment

Fear & Greed

Sentiment index (0 fear, 100 greed)

Fear

7D avg: 39.6, 30D avg: 28.9

Derivatives

Funding & Open Interest

Leverage positioning from perpetual futures markets

Funding: -0.0034%

OI 24H: -6.48%

Neutral

Cycle Context

Halving Clock

Last halving: 20 Apr 2024

Days since: 746

Est. next: 714

Long-term structure

DCA Structure

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State Notes

Why This State

Price is -2.02% from the 200-day moving average.
Fear & Greed is 46 (Fear), sentiment is balanced.
MVRV Ratio is 1.49, in a fair-value range.
30-day volatility is 0.89x the 1Y average, normal conditions.
Derivatives positioning is neutral.

Valuation

MVRV Ratio

Market cap relative to realized cap valuation

1.49

Fair Value

Volatility

30D Realized Vol

Recent price swing intensity vs 1-year baseline

Now: 35.23%

1Y Avg: 39.79%

Ratio: 0.89x

Near baseline.

Bitcoin State describes Bitcoin state using on-chain and technical indicators. It does not provide financial advice.
Always do your own research before making investment decisions.