Glassnode: Bitcoin is still in a relatively early stage of price discovery

Data analysis company Glassnode posted on X platform stating that compared to historical cycles, Bitcoin is still in a relatively early price discovery stage. The data shows that in previous frenzied stages, Bitcoin prices have experienced multiple pullbacks of over 10%, with most of them being even larger with pullbacks of over 25% being very common. However, in this current cycle, since Bitcoin broke its historical high, there have only been two corrections of around 10%.