Are We In A Bear Market? Glassnode Analyses The Latest Bitcoin Crash
Let’s cut to the chase: Glassnode thinks we’re in a bear market. In their latest “The Week On-Chain” newsletter, the company tries to “establish the likelihood that a prolonged bear market is in play” by “using historical investor behaviour, and profitability patterns as our guide.” One thing’s for sure, the recent crash was severe, and “such a heavy drawdown is likely to change investor perceptions and sentiment at a macro scale.” Related Reading | Bitcoin Leads As Markets Sees Record Outflows. Bear Market Incoming? How severe was it? According to Glassnode, “this is now the second....
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Bitcoin NUPL indicator has sharply dropped in value recently, a trend that may signal the start of the early bear market period. After The Crash, Bitcoin NUPL Value Has Declined To 32.5% According to the latest weekly report from Glassnode, the BTC NUPL’s recent trend may suggest that the early bear market is now beginning. The “Net Unrealized Profit and Loss” (or NUPL in short) is an on-chain indicator that measures the difference between the relative unrealized profit and the relative unrealized loss. NUPL = (Market Cap – Realized Cap) / Market Cap In simpler....
Data from Glassnode shows the Bitcoin long-term holder cost basis is currently above the realized price of the crypto. Bitcoin Long-Term Holder Cost Basis May Have Hints For Bear Market Length As per the latest weekly report from the analytics firm Glassnode, the LTH cost basis has remained below the realized price for a period […]
The crypto economy has slipped under the $1 trillion mark to the $970 billion range, as a large number of digital currencies have lost more than half their USD worth since November 2021. Bitcoin is down 70% from the all-time high last year, and a new report from Glassnode Insights calls the current bear market “a bear of historic proportions,” while highlighting that “it can reasonably be argued that 2022 is the most significant bear market in digital asset history.”
Glassnode Researchers: ‘Bitcoin Is Currently Experiencing the Largest Capital....
While many indicators suggest that the market bottom may be close, time will be the ultimate determinant, according to a new report from Glassnode. Bitcoin wealth is being distributed from weak hands to strong hands due to ongoing capitulation from retail investors and miners, signaling that the bottom may be close.The latest ‘The Week On-Chain’ report from blockchain analysis firm Glassnode on July 11 explains that market capitulations have been ongoing for about a month and that several other signals suggest bottom formations in Bitcoin prices. However, Glassnode analysts wrote that the....
This is the weirdest bear market to date. It seems like most people were prepared for it, even though the death spirals and Chapter 11 bankruptcies that started it came out of nowhere. In any case, every coin is in the red. The market should be in a state of fear, uncertainty, and doubt. That is certainly not the case for the two leading cryptocurrencies. The circumstances might be different for each one, but both markets show signs of unwavering conviction. Related Reading: 62% Of Addresses Keep Their Bitcoin Holdings For Over A Year In Bear Long-time holders of bitcoin and ethereum seem....