[Analyst: Long-Term Holders Haven't Fleeed Significantly; Bitcoin is in a Deep Value Zone] On-chain analyst Checkmate points out that in the current Bitcoin sell-off, its "mean reversion index" is currently at Q18 (i.e., at the bottom 18% of the distribution range), and anything below Q20 is considered a deep value zone. This is the fourth capitulation-style sell-off since the all-time high, with daily sell-offs more than doubling from approximately $420 million to over $850 million, of which over 85% came from investors who recently bought at the $80,000 high. In contrast, long-term holders are mostly still in a profitable position and have largely not sold.