Litecoin miners have escalated their sell-off activities recently, causing the total supply to drop from 655,000 LTC to 645,000 LTC. This decrease is reflective of strategic positioning rather than panic selling, marking a consistent pattern over the past months.
The 30-day MVRV for Litecoin has fallen from 38.57% in December to 16.12%, suggesting reduced profit margins for short-term investors. Despite this, the Accumulation/Distribution line has increased from 60 million to 67.37 million, highlighting continued buying interest.
Litecoin’s price is currently at 119.06 USD, showing bullish trends from both the 50-day and 200-day moving averages. Market data indicates that while miners persist in sell-offs, buying pressure is evident, which may lead to potential price recovery if selling pressure declines.