15-17 Year Bull Market Cycle, Short-Term Holders Have Been Above Water for About 30 Months

19-21 Year Bull Market Cycle, Short-Term Holders Have Been Above Water for About 33 Months

Current Bull Market Cycle, Short-Term Holders Have Been Above Water for About 26 Months

STH-MVRV (Short-Term Holder Market Value to Realized Value) is an important on-chain indicator in the cryptocurrency market, mainly used to analyze the profit or loss status of BTC short-term holders, as well as market sentiment and potential buying and selling pressure. When this indicator is >1, on-chain short-term holders are generally in a state of profit.