Analyst: Bitcoin Long-Term Holder Loss Metric Nears 2018 Levels, Market May Be in Bottom Zone
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Analyst: Bitcoin Long-Term Holder Loss Metric Nears 2018 Levels, Market May Be in Bottom Zone
Currently, the supply of Bitcoin held by long-term holders (LTH) at a loss has exceeded the level during the FTX collapse and is approaching the 2018 bear market phase. The current Bitcoin Realized Price is approximately $50,000. Historically, every cycle has retested the Long-Term Holder Realized Price, so there remains a possibility of retesting this level in the future.
Navigating Web3 tides with focused insightsTechFlow news, July 26: According to KillaXBT, approximately 80% of the top indicators in the previous Bitcoin cycle were never triggered, therefore similar situations may occur with future market bottom indicators, and some traditional bottoming signals may not fully appear.
He noted that the supply of Bitcoin currently held at a loss by long-term holders (LTH) has exceeded levels during the FTX collapse and is approaching the 2018 bear market phase. The current Bitcoin Realized Price is approximately $50,000. Historically, every cycle has retested the long-term holder realized price, therefore there remains a possibility of retesting this level again in the future.
However, KillaXBT stated that one should not rely too heavily on a single bottom indicator, because a large number of top indicators were not triggered in the previous cycle, and similar situations may also occur with future market bottom indicators. The current extent of market losses has reached levels close to those of the FTX incident and the 2018 bear market period.
