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Bitcoin

Short-term holder MVRV

Short-term holder MVRV

The price against what short-term holders paid — 1 is their break-even, the line bull markets hold and bear markets lose.

×1.16Price$84.5K
×0.75×1.00×1.302024 halving202425 Sept 202224 Sept 202424 Sept 2026perly.io

Short-term holders are the coins that moved in the last 150 days — the newest money. Every top has stretched the ratio to about 1.3; under 1 the newest buyers are underwater.

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How this is built

The price against what short-term holders paid — 1 is their break-even, the line bull markets hold and bear markets lose.

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.