Bitcoin Short-Term Holders Endure 60 Days Of Losses As STH MVRV Stays Negative In Q4 2025
In the fourth quarter of 2025, Bitcoin has been underperforming while short-term holders have reportedly endured 60 straight days of deeply negative STH MVRV values. This on-chain pattern, highlighted by market quant Burak Kesmeci, coincides with BTC trading below its 111-day simple moving average and signals an extended stress phase for reactive investors. With Bitcoin hovering around $87,380 and little daily price movement, the market appears caught between potential capitulation-driven selling and a possible stabilization phase.