Alphractal: Bitcoin May Complete First Cycle Without Long-Term Holder Losses
- —In 2022 BTC fell to -0.2 standard deviation from LTH realized price, with MVRV below 1
- —In the current correction BTC found support near +0.5 standard deviation, above the LTH cost basis
- —Alphractal says it is too early to declare the historical bear pattern definitively broken
- —US spot Bitcoin ETFs saw $681 million in weekly outflows, the largest since June
Why it matters: If the cycle ends without LTH slipping into losses, the market's structure has shifted, changing the playbook for long-term investors.
Source: Bitcoin Sistemi