Bitcoin Trades Below ETF Cost-Basis As MVRV Signals Mounting Pressure

The middle of January marked the continuation of an already struggling price action for Bitcoin, as it took on another sharp downtrend. Early into February, the flagship cryptocurrency seemed to be on a free-fall, even breaching important psychological price levels as it crashed.
One of these levels is the cost basis of one of Bitcoin’s most influential investor cohorts – the Bitcoin ETF investors. Data from a recent on-chain evaluation reveals that Bitcoin has since traded underneat