Short-term holder MVRV shows Bitcoin still has a 20-25% upside

According to CryptoQuant data, the MVRV ratio for short-term holders (STH) is currently 1.15, below the typical level of 1.35 that triggers profit-taking behavior. During this cycle, STH's unrealized profit has never exceeded 42%, and whenever it reaches about +35% (corresponding to an MVRV of about 1.35), the market tends to experience short-term pullbacks.

The actual price for STH first broke $100,000 on July 11 and is currently over $102,000, indicating that Bitcoin still has about a 20-25% upside before facing greater selling pressure.

#Bitcoin #STHMVRV #CryptoQuant #On-Chain Data