Short Term Holder MVRV

2024年8月10日

Short-Term Holder MVRV is an indicator designed to assess the ratio between the Market Value and the Realized Value of Bitcoin that has been held for less than 155 days.

• Market Value is calculated as the current price of Bitcoin multiplied by its circulating supply.
  
  
• [Realized Value is derived by multiplying the realized price of Bitcoin (the price at which the coins last moved) by the circulating supply. It represents the total cost basis of all Bitcoin held by short-term holders.
  

Key Interpretations:

1. Indicator Value < 1: When this metric is below 1, it suggests that the market value of Bitcoin held by short-term holders is lower than their cost basis (Realized Value), meaning they are, on average, holding at a loss. The lower this value, the greater the average loss.
   
   
2. Indicator Value > 1: When the metric exceeds 1, it indicates that the market value is higher than the realized value, signifying that short-term holders are, on average, in profit. The higher this value, the greater the average profit.
   
   
3. Indicator Value = 1: The value of 1 is seen as a breakeven point for short-term investors, often acting as a critical support or resistance level for Bitcoin's price.
   

2024年11月18日

版本注释

Update to Pinescript V6

STH-MVRV (MVRV) (sthMVRV): This indicator compares Bitcoin's current MVRV ratio to its 155-day SMA.
It focuses on the relationship between market value and realized value, providing insight into short-term holder profitability and broader market conditions. A value above 1 suggests profitability, while a value below 1 indicates potential losses for short-term holders.

STH-MVRV (Price) (sthMVRV2): This indicator compares Bitcoin's current price to its 155-day SMA.
It emphasizes price momentum, revealing whether the price is extended above or below its historical average. A value above 1 implies the current price is higher than the 155-day average, and below 1 suggests the opposite.

STH-MVRV (AVG) (AvgMVRV): This metric averages the STH-MVRV (MVRV) and STH-MVRV (Price) values, combining both on-chain value dynamics and price momentum. It provides a balanced view of market conditions, capturing insights from both profitability and price trends.