Bitcoin (BTC) Long-Term Holder Distribution Measure Falls 22%

Analyst Axel Adler Jr. said a measure of Bitcoin (BTC) long-term-holder distribution fell 22% in the week through Oct. 29, while the group’s unrealized profit margin narrowed. The rolling 30-day total decreased to 240,000 BTC from 310,000 BTC between Oct. 22 and Oct. 29. It sums daily declines in supply held for at least six months over the prior 30 days. Smaller daily reductions in recent days pulled the measure lower. The cohort’s MVRV ratio was 1.65, with market price 65% above its $48,000 average cost basis. A week earlier, the ratio was 1.67, equivalent to a 67% margin.