Bitcoin Is Trading at 1.68x Its Structural Floor: Institutional Metric Shows How Much Room Remains Before Overvaluation
The Delta-Thermo Market Multiple, published on CryptoQuant, combines two on-chain cost basis measurements into a single ratio. The Delta Cap represents the average institutional entry price, derived from the difference between realized cap and average cap. The Thermo Cap represents the total security cost paid to miners since Bitcoin’s inception, reflecting the cumulative economic investment […] The post Bitcoin Is Trading at 1
BTC
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