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LTH MVRV

LTH profit ratio

PropertyValue
CategoryValuation Metrics
UnitDimensionless
Resolution1d
AssetsBTC
TierBasic
API EndpointGET /v1/holder/valuation
Fieldlth_mvrv

Overview​

LTH MVRV (Market Value to Realized Value) measures the ratio between Bitcoin's current market price and the average cost basis of Long-Term Holders. LTH/STH classification uses the logistic weighting function centered at 155 days.

Formula​

LTH MVRV=Market PriceLTH Realized Price=Market Cap (LTH portion)LTH Realized Cap\text{LTH MVRV} = \frac{\text{Market Price}}{\text{LTH Realized Price}} = \frac{\text{Market Cap (LTH portion)}}{\text{LTH Realized Cap}}

Interpretation​

  • MVRV > 1: LTH cohort is in aggregate profit. Higher values indicate greater unrealized gains and potential distribution pressure.
  • MVRV < 1: LTH cohort is in aggregate loss. This is rare and historically represents generational buying opportunities.
  • MVRV > 3.5: Historically indicates overheated conditions and potential cycle tops.

Use Cases​

  • Cycle top/bottom identification: Extreme MVRV values have historically marked cycle extremes.
  • Risk assessment: Rising MVRV increases probability of distribution events.
  • Strategic positioning: MVRV < 1 has been a reliable long-term accumulation signal.

API Usage​

curl -H "Authorization: Bearer YOUR_API_KEY" \
  "https://api.blocklens.co/v1/holder/valuation?start_date=2024-01-01&end_date=2024-12-31&limit=365"