The #Bitcoin Realized Profits-to-Value Ratio (RPV) compares profit-taking in the market (Realized Profit) against the network valuation (Realized Cap)
The RPV Ratio collapsed to prior cycle lows, suggesting much of the exuberance from the bull has been flushed out. pic.twitter.com/fJPvgovJBV
— glassnode (@glassnode) January 21, 2023
