[Analysis] "Bitcoin, Short-Term Holder MVRV Drops to 0.96... Suggests Rebound Potential"
Summary
- It was reported that Bitcoin's short-term holder MVRV indicator fell to 0.96, raising the possibility of a price rebound.
- Short-term holders are in an unrealized loss state of about 4% compared to the average purchase price, as the realized price fell to $90,800.
- It was analyzed that in past cycles, there was a rapid market recovery when the MVRV indicator fell to -9%~-17%.
As the MVRV (Market Value to Realized Value) indicator for short-term Bitcoin (BTC) holders declines, the possibility of a price rebound is raised.
On the 27th (local time), CryptoQuant author Darkfost reported, "As Bitcoin's price correction continues, the realized price for short-term holders has fallen to about $90,800, and they are in an unrealized loss state of about 4% compared to the average purchase price. Accordingly, the short-term holder MVRV ratio has currently dropped to the level of 0.96."
The author continued, "Considering that the MVRV of short-term holders has not risen more than 42% in this cycle, it indicates that the cycle has not yet ended, and in this cycle, when the indicator's value fell to -9%~-17%, the market showed a quick recovery."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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