Definition. Short Term Holder MVRV (STH-MVRV) is the MVRV ratio computed using only UTXOs younger than 155 days, serving as an indicator of short-term investor behaviour. Long Term Holder MVRV is the long-term holder counterpart, and MVRV is the related base variant without segmentation.

Technical. A hard cutoff at 155 days is used to distinguish Long- and Short-Term Holders. The metric is related to Short-Term Holder NUPL via NUPL = 1 - 1 / MVRV.

Notes. For more information, see our article on breaking up on-chain metrics for short- and long-term holders.