glassnode: In this cycle, long-term holders of BTC have always been profitable, breaking the previous bear market patterns

According to glassnode data, long-term holders of BTC have always been in a profitable state during this cycle. This situation has never occurred in previous bear markets since at least 2015.

In every previous bear market, the long-term holder MVRV (LTH-MVRV) indicator would drop below 1 at the bottom of the cycle, causing this group to fall into a state of loss. However, this time, the indicator has bottomed out at a level above 1 and is currently rising again.