Glassnode: Bitcoin's recent decline is relatively mild, consistent with historical bull market patterns
Wednesday's Glassnode Onchain Newsletter indicated that despite recent corrections, the overall structure of the Bitcoin market remains consistent with historical bull markets, reflecting both demand elasticity and the limited scale of recent corrections. The report emphasizes that although Bitcoin has experienced adjustments, these adjustments are much milder compared to previous cycles.Glassnode highlights two key indicators: the True-Market Mean and the Active Investor Price, both of which help estimate the average cost basis of Bitcoin investors in the current market cycle. The True-Market Mean reflects the average price at which all market participants acquired Bitcoin over a period of time, while the Active Investor Price focuses specifically on the average cost basis of investors who have been actively trading in recent months.Since the beginning of this year, the spot price has generally remained above these two levels, with only brief exceptions. The report suggests that this indicates a strong support base that helps stabilize the market during price declines.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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