16.1 million BTC locked up and unmoved, long-term holders' cost basis at $48.4k—this is what "diamond hands" truly means.

Market drops to $59k, who is holding? The data gives the answer.

CryptoQuant analyst data shows that Bitcoin long-term holders' positions have reached a record 16.1 million BTC, with the MVRV ratio compressing to 1.24, a three-year low. The average cost basis for long-term holders is $48.4k, with current unrealized profit of only 24%.

Several key points:

MVRV 1.24 means market value is only 24% above realized value, the lowest level since 2023. The last three times it touched a similar range, it corresponded to mid-cycle bottom zones.

Sell indicators remain at historical lows—meaning these "diamond hands" choose to continue holding, and are even absorbing supply instead of panic selling.

The real risk is: if BTC breaks below the $48.4k cost basis while selling activity surges, it could trigger a capitulation of the most steadfast holders. That would be the true "bottom of bottoms."

Simply put, at this level, smart money is accumulating, retail is panicking. $48.4k is the last line of defense and the final support for bulls.
$BTC #Gate完成141只股票股息派发