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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.

×1.70Price$84.5K
×1.00×2.00×3.502024 halving202425 Sept 202224 Sept 202424 Sept 2026perly.io

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.

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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.