In this cycle, Bitcoin long-term holders' MVRV has never fallen below 1

Odaily reports that Bitcoin long-term holders have remained in profit throughout this cycle. Since 2015, no previous bear market has seen this situation; in every past bear market, the long-term holder MVRV would fall below 1 at the cycle low, meaning this group as a whole was underwater.

In the current cycle, the long-term holder MVRV has remained above 1 at its lowest point and has now begun rising again.