Svmuu According to CryptoQuant analyst Darkfost, the current Bitcoin price is fluctuating around the $65,000 to $70,000 range, significantly below the average cost basis of approximately $85,900 for short-term holders, leaving investors who entered the market in the past six months generally in a loss-making position.
Data shows that the short-term holder MVRV has dropped to around 0.77, below the neutral level, and even touched 0.7 at the end of February, reflecting an average unrealized loss nearing 30%. This indicator measures market valuation by comparing market capitalization to the on-chain realized cost. Analysis suggests that MVRV remaining at low levels for an extended period indicates pressure on the short-term holder cohort, which may exacerbate market volatility.