MVRV_STH
Tech spec
| Field | Value |
|---|---|
| API name (slug) | mvrv_sth |
| Group | market value to realized value (mvrv) |
| Unit / Valuetype | ratio / other |
| Shape | scalar |
| Resolutions | block, h1, h4, h8, h12, d1 |
| Endpoints | /v2/market_value_to_realized_value |
| Tier | 0 |
| Last updated | 2025-08-26 14:33 UTC |
| Docs | Open in Swagger |
Brief Description: The ratio of Market Cap to Realized Cap.
MVRV_STH evaluates the profit or loss status of investors and identifies overvaluation or undervaluation in the Bitcoin market.
Metric variants
- _lth: MVRV_STH restricted to Long-Term Holders (age ≥ 155 days).
- _sth: MVRV_STH restricted to Short-Term Holders (age < 155 days).
- _52k: instead of full bitcoin history, only the last 52 500 blocks are used to compute the standard deviation (approx. 1 year)
- _210k:instead of full bitcoin history, only the last 210 000 blocks are used to compute the standard deviation (approx. 4 year, one halving cycle)
Interpretation The MVRV_STH ratio indicates whether the investors are in a state of profit or loss, influencing investment decisions. A MVRV_STH value of 1 it indicates that the investors (on average) are in neutral position, i.e. not in profit or loss. A MVRV_STH value above 1 indicates that investors are (on average) in profit, and high values suggests that price is overvalued.
Advanced Explanation By comparing these two values, MVRV_STH illustrates whether Bitcoin's price is inflated above or deflated below its perceived "fair value" determined by the cost basis of holders.
MVRV_STH is calculated by:
MVRV_STH = MarketCap / RealizedCap