For only the fourth time in history, BTC MVRV has dropped below 1. In hindsight, the past periods where MVRV dropped below 1 have been the best times to accumulate BTC at a relatively discounted price. 
The large drop in MVRV is because the BTC market cap dropped 46% over the last 7 days, while the realized cap has only dropped 3%
The relatively small drop in realized cap signals that for the most part, longer-term holders are staying strong, and that the recent price action is likely driven by newer buyers.
At least $1.3B of BTC (195K BTC) and $200M (1.79M) of ETH was deposited onto major exchanges
