According to the experts of analysis company Glassnode, the unrealized losses of the "average" long-term Bitcoin investor have reached 33%.
According to them, the current value of the MVRV indicator corresponds to the bear market situation of 2018 before its end. At that time, the value of unrealized losses among hodlers reached 36%.
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Glassnode analysts have previously recorded a slight decline in the balances of long-term investors amid the turbulence caused by the collapse of cryptocurrency exchange FTX. They believe this was a sign of continued confidence in BTC's prospects.
The loss of BTC investor confidence in centralized platforms has resulted in rising balances among all market participants.