This Bitcoin Bear Confirmation Is Yet To Appear, Glassnode Reveals
Glassnode's report indicates that Bitcoin has not yet confirmed a historical bear market in the current cycle. The Unrealized Loss metric, which measures total losses across Bitcoin addresses, shows that short-term holders (STHs), who bought within the last 155 days, are experiencing significant losses as Bitcoin trades below their purchase levels. The Unrealized Loss per Percent Drawdown for STHs has increased to levels comparable to previous bear markets. In contrast, long-term holders (LTHs), who have held their coins for over 155 days, currently show no unrealized losses. Historically, LTHs have seen losses spike during bear market transitions, but this signal has not yet emerged for Bitcoin. Bitcoin's price is currently stable around $85,000, pausing its recovery rally.
