Analysis: Long-term holders hold 16 million Bitcoin, with the market approaching the late stage of the bear market.
2 hours ago
CryptoQuant analyst Axel Adler Jr. stated in a recent post that Bitcoin’s Long-Term Holder (LTH) MVRV ratio has fallen to 1.24, near its three-year low, signaling BTC is approaching the cost base of long-term holders. Currently, the average cost for LTHs is roughly $48,400, while BTC trades at around $59,000, meaning the average unrealized profit for long-term holders has narrowed to about 24%, with a roughly 19% gap from their cost line. Adler added that long-term holders have not engaged in significant selling: LTH holdings have reached a new all-time high of approximately 16.1 million BTC, and the spending metric remains at a low level, indicating the recent price drop is primarily a market correction rather than capitulation selling by long-term holders.
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