Analysis: Bitcoin short-term holder MVRV rises to its highest level since November 2025, potentially signaling imminent profit-taking.

BlockBeats news, September 28: CryptoQuant analyst Darkfost stated that Bitcoin's short-term holder (STH) MVRV (realized market cap) has risen to its highest level since November 2025. Momentum accelerated noticeably from August to September, primarily driven by the price breaking above the short-term holder cost basis of approximately $73,100.

Data shows the current STH MVRV is 1.15, meaning short-term holders are sitting on an average unrealized gain of about 15%, having reclaimed a position above realized market cap. Darkfost noted that this level warrants close attention, as it could prompt short-term holders to begin taking profits.