Rangkuman berita: Bitcoin Market Stress: Short-Term Holders Face Significant Losses as Long-Term Holders Accumulate

Global - Bitcoin's on-chain metrics are showing signs of market stress, with the short-term holder MVRV ratio falling to 0.82. This metric compares the current BTC price to the average cost basis of coins held by short-term holders. A value below 1.0 indicates that recent buyers are holding unrealized losses, with the current level suggesting an average loss of 18%.

Historically, such low MVRV ratios have been associated with market bottoms and trend reversals. Previous cycle lows were seen at 0.84 in August 2024 and 0.77 in November 2022, both of which preceded market recoveries. These periods often see weak hands capitulate while smart money accumulates.

Since February, long-term holders have increased their BTC holdings by approximately 500,000 BTC, while short-term holders have sold over 300,000 BTC. This indicates a shift in BTC distribution, with long-term holders accumulating more than short-term holders are selling. The current market conditions suggest significant pain for short-term holders but potential opportunities for long-term investors.

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Apa yang dimaksud dengan rasio MVRV pemegang jangka pendek?

Rasio MVRV pemegang jangka pendek membandingkan nilai pasar Bitcoin saat ini dengan harga rata-rata yang dibayar oleh pemegang jangka pendek.

Apa arti nilai MVRV di bawah 1,0?

Nilai MVRV di bawah 1,0 menunjukkan bahwa pembeli baru, secara rata-rata, mengalami kerugian yang belum direalisasi.

Apa yang terjadi pada pemegang jangka panjang sejak Februari?

Sejak Februari, pemegang jangka panjang telah meningkatkan pasokan mereka dengan sekitar 500.000 BTC.

Mengapa penurunan MVRV dapat menandakan kapitulasi?

Penurunan MVRV yang dalam sering kali menandakan bahwa pemegang lemah mengalami kapitulasi, sementara uang pintar mulai mengakumulasi.

Apa yang dilakukan pemegang jangka pendek dengan Bitcoin mereka?

Pemegang jangka pendek telah mendistribusikan lebih dari 300.000 BTC, sebagian besar karena pengambilan keuntungan dan kapitulasi.

Rangkuman Berita: Bitcoin Market Stress: Short-Term Holders Face Significant Losses as Long-Term Holders Accumulate

To highlight the current state of Bitcoin's market stress and the behavior of short-term and long-term holders.

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