Bitcoin's short-term holders slide deeper into losses as MVRV dips into bear-market territory

Odaily Planet Daily reports that CryptoQuant analyst Darkfost says Bitcoin has been trading around $65,000–$70,000, well below the roughly $85,900 average cost basis for short-term holders. That gap leaves most investors who bought in over the past six months sitting on losses. On-chain data shows the short-term holder MVRV has fallen to about 0.77, below the neutral level, and briefly touched 0.7 in late February, implying an average unrealized loss close to 30%. The MVRV gauge compares market capitalization with the on-chain realized cost to assess valuation. Analysts warn that an extended period of depressed MVRV signals sustained stress on short-term holders and could intensify market volatility.