Bitcoin’s short-term holder MVRV ratio has reached its highest reading since November 2025, according to analyst Darkfost, who said the move followed a break above the group’s cost basis near $73,100. He said market momentum strengthened noticeably between August and September after that level was cleared. The current STH MVRV stands at 1.15, which indicates that short-term holders are sitting on an average profit of 15% and that the market value of their holdings is now above their realized value. Darkfost said the level warrants close attention because it could lead short-term holders to act, especially by taking profit. The metric tracks the ratio between market capitalization and realized capitalization for this cohort and is often used to gauge whether recent buyers are in profit or under pressure.
Bitcoin’s short-term holder, or STH, MVRV ratio has risen to its highest level since November 2025, according to analyst Darkfost.
Darkfost said the move was driven in part by Bitcoin breaking above the short-term holder cost basis near $73,100, a development that helped strengthen market momentum between August and September.
The STH MVRV ratio is currently at 1.15. That suggests short-term holders are, on average, sitting on gains of 15%, with the market value of their holdings now above realized value.
Darkfost said the level should be watched closely because it could prompt short-term holders to act, particularly through profit-taking.
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