Bitcoin’s MVRV score nears danger zone – Are short-term holders at risk?

• Bitcoin’s MVRV score of short-term investors dropped to 1.05, but holders are still in profit.
• Long liquidity cluster sitting below $94K could fuel a revisit of $92K — key for STHs.

The Short-Term Holder (STH) MVRV score for Bitcoin [BTC] recently dropped to 1.05. This crucial threshold indicated investors were just above the break-even point.

The drop in the MVRV score suggested a potential cooling-off in buying enthusiasm among short-term holders.

Despite this decline, the score remaining above 1 implied that the selling pressure may not be as intense yet. This could potentially prevent another drop.

Source: Bitcoin Magazine PRO

The STH’s approximate cost basis of around $92,000 serves as a critical support level for the market.

BTC could drop to $92K, but if it maintains above this cost basis, it could indicate continued confidence among short-term investors, supporting stable prices or an uptrend.

Conversely, if the MVRV score falls below 1, it could signify that most STHs are at a loss. This could lead to increased selling pressure as investors attempt to minimize losses.

This scenario would put the $92,000 support level at risk of breaking down, possibly triggering a sharper decline in Bitcoin’s price.

Potential liquidity hunt on BTC longs

Further analysis shows that Bitcoin continued with its pattern of interacting frequently with liquidity zones.

This pattern persisted, with BTC initially maintaining levels just above the long clusters before inevitably dipping to sweep the liquidity at $95,000.

However, the recurrent tests of these liquidity pools suggested a bearish undertone as the price failed to sustain higher levels, especially near the $100,100 short liquidity zone.

Source: Hyblock Capital

This consistent pull towards lower liquidity zones, now below $94K, signals a potential setup for further drops, potentially down to the $92,000 level, crucial for short-term holders (STHs).

If Bitcoin continues this pattern, the $92K level could soon play a pivotal role.

Breaking below this level could lead to a shift in market sentiment, possibly causing short-term holders to capitulate, adding downward pressure on the price.

Conversely, a successful defense of this level might reinforce confidence, possibly stabilizing or driving up prices as accumulation occurs at these lower levels.

MicroStrategy and BlackRock buying, but prices drop

Lastly, this drop is supported by the fact that the prices declined despite significant purchases by Michael Saylor’s, MicroStrategy, and BlackRock, alongside the movement of 14,000 dormant Bitcoins.

These large transactions might have signaled a potential increase in supply, even if not immediately sold, causing uncertainty and thus a price drop.

Source: CryptoQuant

Read Bitcoin’s [BTC] Price Prediction 2025–2026

If these Bitcoins are seen as long-term holds, not sell-offs, it might suggest less selling pressure. This could potentially stabilize or boost the price.

Future price moves hinge on whether these Bitcoins stay off exchanges. This could indicate a bullish outlook if viewed as a store of value.