According to Odaily analyst Darkfost, Bitcoin's current price is fluctuating between $65,000 and $70,000, significantly lower than the average cost of approximately $85,900 for short-term holders, resulting in widespread losses for investors who entered the market in the last six months.
Data shows that the MVRV of short-term holders has fallen to approximately 0.77, below the neutral level. It briefly touched 0.7 at the end of February, reflecting an average unrealized loss of nearly 30%. This indicator measures market valuation by comparing market capitalization with on-chain realized costs. Analysts believe that the persistently low MVRV level indicates pressure on short-term holders, potentially exacerbating market volatility.
