Current Market Overview
Bitcoin (BTC), the leading cryptocurrency, is currently trading at approximately $56,785. This represents a 22% decline from its peak price of over $73,000. The drop has left many short-term Bitcoin investors—those who bought in during the rally earlier this year—struggling with substantial unrealized losses.
According to Glassnode, a leading provider of on-chain data, the Market Value to Realized Value (MVRV) ratio for short-term holders has fallen below the crucial level of 1.0.·
For the full story, head over to TheCurrencyAnalytics.com.
