MVRV_Z_210k_window_LTH
Tech spec
| Field | Value |
|---|---|
| API name (slug) | mvrv_z_210k_window_lth |
| 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 deviation of Market Cap from its Realized Cap in standard deviations.
MVRV_Z_210k_window_LTH evaluates the profit or loss status of investors and identifies overvaluation or undervaluation in the Bitcoin market.
Metric variants
- _lth: MVRV_Z_210k_window_LTH restricted to Long-Term Holders (age ≥ 155 days).
- _sth: MVRV_Z_210k_window_LTH 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 Understanding the MVRV_Z_210k_window_LTH can provide significant insights into market sentiment and periods of overvalued or undervalued prices. When the score is high, it can signal widespread optimism, possibly indicating a market top as the market value significantly exceeds the realized value. Conversely, a score below zero often reflects market pessimism, suggesting a potential bottom.
Advanced Explanation It is a standardized metric, enabling comparison across different periods and market phases. The MVRV_Z_210k_window_LTH stands for the difference between Market Cap and Realized Cap, divided by the standard deviation of Market Cap.
MVRV_Z_210k_window_LTH is calculated by:
MVRV_Z_210k_window_LTH = (Market Cap - Realized Cap) / Standard_Deviation(Market Cap)