New data from the market information company Glassnode suggest that Bitcoin (BTC) could approach an early Bear market.
In a new thread on the social media platform X, Glassnode out That the cryptoming blinking signs is that historical date of a bearish phase.
According to the Crypto Analytics platform, short-term holders who hold on to non-realized losses compared to the current price of BTC analogue to the early Bear market conditions that are present during the earlier cycles of Bitcoin.
“Bitcoin non-realized losses are normalized by percentage of collapse show that holders already have considerable losses in the short term compared to the current correction depth-comparable with early bear market conditions in earlier cycles.”
Glassnode continues remark That although holders have a profit in the long term, the market conditions can ensure that they see their profit decrease, another sign of an upcoming Bearish phase.
“On the other hand, long-term holders (LTH) are still broadly profit, but as BTC buyers get older in the LTH status, loss absorption can rise. Historically, this shift often marked the confirmation of a bear market, although such a regime is not yet clear.”
Bitcoin holders in the short term are traders who hold their tokens for less than 155 days, while holders are defined in the long term as those who have kept their digital assets inactive for 155 days or more.
According to Glassnode, one metric, which measures the directive dominance of value that flows in or out of a network, to show That the best crypto assets from Market Cap is a crucial intersection in terms of market feature.
“Meanwhile, volatility corrected just realized profit/loss for BTC has returned to its long-term median. This marks historically the border between bull and bear regimes, so that the market is placed on a critical point for determining the direction.”
Bitcoin acts for $ 84,557 at the time of writing, a fractional decrease during the last 24 hours.
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