Data: The Ethereum MVRV ratio has reached a bear market level

According to IntoTheBlock data, the MVRV (Market Cap to Realized Value Ratio) of Ethereum (ETH) is currently around 0.9. This level is uncommon in Ethereum's history and usually occurs during bear markets. From historical data, when the MVRV ratio is below 1, it tends to coincide with a good entry point for Ethereum.