Long term BTC holders hold 16.1 million coins, reaching a historic high, while MVRV drops to a three-year low

CryptoQuant analyst Axel Adler Jr. pointed out that the MVRV ratio of long-term Bitcoin holders has dropped to 1.24, the lowest level in nearly three years. The cost base for long-term holders has risen to $48400, while BTC prices have fallen to $59000, with an average profit of 24% for long-term holders. Long term holders hold 16.1 million BTC, reaching a historic high, and the selling indicator remains consistently low. Analysts believe that when MVRV approaches 1.0, it usually approaches the bottom, but it has not yet entered the green surrender zone.