🚨 Glassnode report reveals potential signals of a bear market!
According to the latest Glassnode report, investor behavior on the blockchain indicates a shift towards a bear market that began to emerge since the end of last October.
In just 100 days, we witnessed a significant drop in prices from $110,000 to $60,000, a decline of about 45%! 😱
💡 Key points from the report:
Profit pressure on long-term investors: Since November 1, long-term Bitcoin holders have realized profits of around 318,000 BTC, leading to continued pressure on the market.
Slowdown in selling: Since the beginning of December, the holdings of these investors have started to increase, indicating a slowdown in selling activity.
Market loss degree: At the $60,000 level, the loss percentage reached about 24%, much higher than the transition level between bull and bear markets, indicating that the market is in a deep decline phase, but it has not yet reached the extreme panic stage (>50%).
Psychological pressure on major investors: Since the previous peak in October, prices have not stabilized above the purchase cost for the top 1%, 5%, 10%, and 20% of investors. At $60,000, prices are about 37% lower than the cost for the top 20% of investors, reflecting significant psychological pressure on them, just as seen in May 2022.
📊 In summary, the market is experiencing a strong decline phase, with indicators of "bubble pressure," but there are signs of a gradual stabilization beginning among major investors.
