NewsBTC

18 April 2025

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Bitcoin Bear Market Confirmation Not Yet Seen, According to Glassnode

Glassnode's report indicates that Bitcoin has not confirmed a historical bear market in the current cycle. Key points include:

• The Unrealized Loss metric, which measures total losses across Bitcoin addresses, has not peaked for long-term holders.
• A new variant, the Unrealized Loss per Percent Drawdown, shows that short-term holders (STHs) are experiencing significant losses as BTC trades below levels from the last 155 days.
• Current values of this metric for STHs are comparable to early stages of previous bear markets.
• In contrast, long-term holders (LTHs) have no unrealized losses, marking a divergence from typical patterns where LTHs see increased losses during bear market transitions.
• This lack of unrealized loss spike among LTHs suggests that a bear market confirmation has not yet occurred.
• As more recent buyers transition to LTH status, potential increases in losses within this group may follow.

Bitcoin's price is currently stabilizing around $85,000 after a recovery rally pause.