Bitcoin Bear Signal Missing Glassnode Reports

Bitcoin Bear Market Signal Absent as Unrealized Losses Vary

• The Unrealized Loss metric measures the total loss Bitcoin addresses are carrying.
• A new variant, Unrealized Loss per Percent Drawdown, normalizes losses relative to the percentage decline from all-time highs.
• Short-term holders (STHs) have seen a spike in unrealized losses, comparable to early bear market levels.
• Long-term holders (LTHs) currently show no significant unrealized loss.
• Historically, LTHs’ unrealized losses increase during bear market transitions.
• Bitcoin’s price is moving sideways around $85,000.

The current cycle has not yet shown a historical bear market confirmation for Bitcoin, as long-term holders have not experienced a significant rise in unrealized losses despite short-term holders facing substantial losses.