BITCOIN MVRV BY WALLET SIZE
Which wallet sizes are sitting on the biggest profits?
Today's price against what each group paid on average, as one ratio per size of holder.
10,000+ BTC price vs. buy price
Above the 1.0 line a group is in profit on average; below it, underwater. The 100 to 1,000 BTC group currently sits below breakeven at 0.94.
10,000+ BTC (selected). Latest displayed reading: 1.11 on Aug 15, 2026. This view shows 5,341 dated readings from Jan 1, 2012 to Aug 15, 2026. The latest displayed reading is higher than the first. The displayed low is 0.31 on Jan 14, 2015. The displayed high is 7.02 on Nov 21, 2013. Every day in this range has a reading.
1,000 to 10,000 BTC. Latest displayed reading: 1.03 on Aug 15, 2026. This view shows 5,341 dated readings from Jan 1, 2012 to Aug 15, 2026. The latest displayed reading is higher than the first. The displayed low is 0.35 on Jan 14, 2015. The displayed high is 5.74 on Nov 26, 2013. Every day in this range has a reading.
100 to 1,000 BTC. Latest displayed reading: 0.94 on Aug 15, 2026. This view shows 5,341 dated readings from Jan 1, 2012 to Aug 15, 2026. The latest displayed reading is higher than the first. The displayed low is 0.35 on Jan 14, 2015. The displayed high is 4.74 on Nov 29, 2013. Every day in this range has a reading.
Inspect a chart date
Arrow keys move one plotted point. Home and End jump to the first and latest points.
- 10,000+ BTC (selected): 1.11
- 1,000 to 10,000 BTC: 1.03
- 100 to 1,000 BTC: 0.94
Which groups are in profit right now?
6 of 7 groups are in profitThe 100 to 1,000 BTC group is the furthest underwater, at 6% below its average buy price. The 10 to 100 BTC group is the furthest ahead, up 129%.
How far is each group from breakeven?
Size of holding Price vs. buy price Up or down Share of all coins 10,000+ BTC 1.11 up 11% 14.9% 1,000 to 10,000 BTC 1.03 up 3% 21.2% 100 to 1,000 BTC 0.94 down 6% 25.7% 10 to 100 BTC 2.29 up 129% 21.0% 1 to 10 BTC 1.29 up 29% 10.2% 0.1 to 1 BTC 1.33 up 33% 5.3% 0.01 to 0.1 BTC 1.31 up 31% 1.4% What should you keep in mind?
An address is not a person. One holder can spread coins across many addresses, and an exchange can keep millions of customers' coins in a few. Read every group as a set of addresses, never a headcount.
The ratio compares today's price with the average price each group's coins last changed hands at. A reading of 1.00 is breakeven; 2.00 means the price is double the group's average buy price; below 1.00 the group is underwater on average.
What does this mean for you?
Groups deep in profit have coins they could take profit on; groups underwater have holders under pressure. When the biggest groups are underwater while small holders are in profit, past cycles have often marked a market still finding its footing.
A quick check: compare a group's ratio with its share of all coins. A large, underwater group matters more to the market than a small one at the same depth.
Understanding Bitcoin MVRV by Wallet Size
Take each size group's average buy price and divide today's price by it. Above 1.0 the group is in profit on average; below 1.0 it is underwater. This page tracks that ratio for seven size groups across the full history, so you can see who is ahead, who is behind, and by how far.
The technical name for this ratio is MVRV, short for market value to realized value: the current price measured against the average price a group's coins last changed hands at. A reading of 2.0 means the price is double what the group paid on average; 0.9 means the group is ten percent under.
Groups rarely move together. The largest holders often carry old, cheap coins, so their ratio runs high through most of a cycle, while groups that bought recently hover near 1.0. The odd one out is the tell: one group deep underwater while every other is in profit marks exactly where the pain is concentrated, and past cycles show underwater groups sell rallies sooner. Addresses are not people, so read each ratio as a group average, not anyone's actual account.