BTC: 'Weak hand' shakeout in progress

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Ibis
Sep 21, 2021

Bitcoin is crashing (again) as we speak, so let's take a quick look at the latest data, with a full weekly report coming tomorrow!


Seems like weak hands are being shaken out, with Bitcoin's exchange inflow picking up as we speak:

At the same time, Bitcoin's Network Profit/Loss suggests the active Bitcoins today are - on average - being moved at a loss compared to the time acquired, suggesting panic selling may be creeping in among some short-term holders:

On another interesting note, Bitcoin's 30-day MVRV ratio is now the lowest it's been since June, coming very close to a historical support level of -15%:

Full breakdown on the whales, social crowd and other key stakeholders coming in a weekly Pro report tomorrow. Stay safe out there!



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Ibis
Sep 21, 2021

Thanks for reading!

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