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Bitcoin: Short Term Holder MVRV

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Indicator Overview

Short-Term Holder MVRV (STH-MVRV) is MVRV that only analyses UTXOs younger than 155 days. As a result it is focussed only on shorter-term investors who are moving coins within a less than 155 days period.

What is MVRV? The ratio between Market Value (price multiplied by bitcoins in circulation) and Realized Value (the price of UTXO’s when they last moved onchain). You can learn more about MVRV here.

Short-Term Holder MVRV is useful as it can highlight when the market value of bitcoin is significantly higher or lower than the average cost basis for short-term market participants. Historically, these periods have coincided with $BTC being near its respective market highs and lows as shown on the chart above.

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