Bitcoin
Long-term holder MVRV
Long-term holder MVRV
The price against what long-term holders paid — below 1 they hold at a loss, which has only happened at cycle bottoms.
Long-term holders are the coins that have not moved for 150 days or more. Every top has taken the ratio past 3.5, the early ones far past it; only the deepest bottoms took it under 1. Drag to zoom · double-click resets
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How this is built
The price against what long-term holders paid — below 1 they hold at a loss, which has only happened at cycle bottoms.
FormulaP / realized price(age ≥ 150ₔ)
AuthorGlassnode
The idea and the formula are Glassnode's. Perly claims no authorship of it — what is ours here is the drawing, computed from public data.