BTC LTH − STH MVRV Difference: 0.497
The profit gap between patient owners (coins unmoved for more than 155 days) and recent buyers. A wide gap has come late in past rallies; the gap closing or turning negative has come at the end of downturns. Every point shown is real up to the date on the badge above the chart.
Each group has a profit multiple: what their coins are worth today divided by what they paid. This chart is the patient owners' multiple minus the recent buyers' multiple, so it shows how much further ahead the patient group is.
For example, +2.5 means patient owners' coins are worth 2.5 times more relative to their cost than recent buyers' coins are — the patient crowd is far ahead, which in past cycles happened while new money was buying near the top. A gap near zero means both groups paid roughly the same, which follows a long flat stretch.
A negative gap means recent buyers are doing better than patient owners, and that has **only** occurred at the very end of deep downturns.
In words: the patient owners' profit multiple minus the recent buyers' profit multiple, each worked out as today's value divided by the price those coins last moved at.
Every point on screen is real and complete up to the date on the badge **above** the chart. The outside feed that supplied them is switched off for good; **our own Bitcoin node** — a full copy of the blockchain that we run ourselves — is recounting this series from the very first block, and new points resume once that finishes.
The 155-day dividing line is a convention, and coins cross it every day just by ageing, so the gap shifts even when nobody trades.
bitcoin-data.com (BGeometrics) supplied every point on this chart, and each one is real up to the snapshot date shown. Safu switched that feed off for good because its licence does not let us republish the data, so no newer days and no older days will arrive from it — no paid key and no purchased history are planned. Safu's own Bitcoin node is re-reading the blockchain from 2009 to rebuild this history. Feed no longer used.
Derived from stored bitcoin-data.com series (snapshot) · rebuilding on Safu's own index