Bitcoin price might have crashed on 6 March and the short-term outlook could appear bearish, but the long-term outlook remains bullish as ever.
Based on Santiment’s research a value below -10% indicates that short-term holders are selling at a loss and is typically where long-term holders tend to accumulate.
Hence, a value below -10% is often referred to as an “opportunity zone,” since the risk of a sell-off is less.
At present, the 365-day MVRV is hovering around the zero line, indicating that the investors are not profitable.
Investors holding between 1,000 to 10,000 BTC have been accumulating since June 2021 and the same can be said for the wallets holding between 10,000 to 100,000 BTC.
The next category of holders with 10,000 to 100,000 BTC has increased from 78 to 85.
The exchange net position change indicator also paints a picture of the behavior of large investors.
With a Master’s degree focused on Mass Communication, Manisha is good at multitasking with an eye for detail.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.