📉 Glassnode: The current Bitcoin pullback is at a 'moderate' level, no need to panic?
According to Glassnode's latest report, despite recent market volatility, Bitcoin's current trend is highly similar to the cycle structure of 2015-2017. Analysts define the current decline as a 'Moderate Drawdown'.
Key points of the report:
Historical Repetition: Compared to previous bull market cycles, the current drop is still within historical norms. At the peak in October, unrealized losses accounted for about 17% of the market cap. Clear signs of accumulation: Despite price fluctuations, the Accumulation Trend Score has surged to 0.68, reaching a new high since November. This indicates that investors are actively 'buying the dip'. Whale Movements: Addresses holding 10 to 100 BTC are the most aggressive. While retail investors are selling out of fear, mid-to-large holders are steadily increasing their positions. Market Pressure Sources: Downward pressure mainly comes from fund outflows from the US spot ETF (over $3 billion just in January) and the rotation of liquidity towards the AI sector.
Conclusion: Glassnode believes the market is undergoing a phase of 'de-leveraging' and 'bubble squeezing'. A pullback of about 40-45% may be unsettling, but it is a typical characteristic of a healthy bull market cycle.
Do you think this is the last 'discount' opportunity before rushing to $100k, or the beginning of a deep winter?👇
#Bitcoin #BTC #Glassnode #加密货币 #币安广场
