HomeUncategorizedBitcoin may need $1B more on-chain losses before new BTC price bottom By Cointelegraph

Bitcoin may need $1B more on-chain losses before new BTC price bottom By Cointelegraph

November 24, 2022

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Bitcoin may need $1B more on-chain losses before new BTC price bottom

(BTC) hodlers may need to triple their on-chain losses for BTC price to put in a macro low.

According to market research firm Baro Virtual, the 2022 bear market is not yet harsh enough to match historical downtrends.

Bitcoin moving profit and loss (MPL) annotated chart. Source: Baro Virtual/ Twitter
drawdown from all-time highs chart. Source: Glassnode
Bitcoin supply % held in profit chart. Source: Glassnode