Glassnode: The price performance of BTC since its 2022 low is very similar to previous bull market cycles
According to the latest report released by Glassnode, Bitcoin's price performance since its 2022 low is very similar to previous cycles, although the recovery speed is slower, it shows more resilience.
Despite a slight increase in token outflows from long-term holders after ETF approval (related to GBTC), most long-term Bitcoin investors are still unwilling to sell their Bitcoins at current prices.
Network activity remains low in terms of physical aspects, but the amount of money transferred on-chain and especially the volume moved to exchanges remain strong and are similar to previous bull market cycles.
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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