Glassnode: Bitcoin high-level position builders turn to long-term holdings after being "invasive", which usually marks the confirmation of a bear market

功夫茶虫

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On April 19, Glassnode issued a statement saying that Bitcoin’s unrealized losses, standardized by the retracement, shows that short-term holders have suffered considerable losses in this round of adjustments - a degree that is comparable to the situation in the early stages of the bear market in the past cycle.

Long-term Bitcoin holders are still profitable overall, but as Bitcoin bought at high levels gradually "aging" and entering the ranks of long-term holdings, the market's loss absorption pressure may increase. Historically, this shift often marked a confirmation of bear markets, although no similar market trends have yet to be seen.

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