$BTC long-term holders stayed in profit this entire cycle.
No bear market since at least 2015 has done that.
In each prior bear, LTH-MVRV fell below 1 at the cycle low, putting the cohort underwater.
This time it bottomed above 1 and is now climbing again
No bear market since at least 2015 has done that.
In each prior bear, LTH-MVRV fell below 1 at the cycle low, putting the cohort underwater.
This time it bottomed above 1 and is now climbing again
