Thread by @glassnode

1/ 🚨 Introducing SOPR and MVRV for long and short term #Bitcoin holders.

Using coin age, we've created a new category of metrics that account for different investor behaviours - providing a more refined picture of on-chain activity.

Read more 👇

insights.glassnode.com/sth-lth-sopr-m…

2/ Long Term Holder SOPR is a signal that can be used to navigate macro cycles.

Compared to aSOPR, it moves at a much lower frequency and shows much larger deviations from the 1 line - indicating clear capitulation zones and market cycle tops.

glassno.de/lthsopr

3/ Long Term Holder MVRV serves as an additional macro cycle indicator that helps identify $BTC tops/bottoms.

LTH-MVRV provides much more distinct signal than the original MVRV - especially when comparing the differences between global and local tops.

glassno.de/lthmvrv

4/ Short Term Holder SOPR, while similar to aSOPR, is less susceptible to sudden spikes & outliers - providing a more stationary signal.

In this example from the last bull market, STH-SOPR's dips below 1 clearly mark local bottoms & good entry points.

glassno.de/sthsopr

5/ STH-MVRV removes long-term trends from the original MVRV, providing a more accurate take on the short-term overvaluation and undervaluation of #Bitcoin.

The 1 line has worked as a resistance/support line, indicating the start and end of bull markets.

glassno.de/sthmvrv