miner stress and holder profits are telling opposite stories: puell, a compressed hashrate ribbon and mvrv 1.51
This story is from 2026-09-06. It is preserved in the archive; the latest stories are on the live feed.
I spend a lot of time watching on-chain valuation metrics, and today two families of them disagree in a way I find more interesting than either number alone. The miner side of the bitcoin market is flashing stress. The holder side is sitting on a 51 percent unrealized gain. Both readings come from…
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- 2026-09-06 02:18 · DEV Community — AI
miner stress and holder profits are telling opposite stories: puell, a compressed hashrate ribbon and mvrv 1.51