CryptoQuant CEO: Bitcoin MVRV never fell below 1 this cycle
- —Bitcoin's MVRV has stayed above 1 throughout the current cycle
- —At the cycle low, BTC traded above holders' average on-chain cost basis
- —Some investors still realized losses
- —Ki previously framed the cycle around long-term holder supply
Why it matters: The metric suggests the market has avoided capitulation, lowering the odds of a deep drawdown in this cycle.
Source: TokenPost