Glassnode: Bitcoin Whales Who Accumulated at Peaks Now HODLing, Typically Signaling Bear Market Confirmation

BlockBeats News, April 19th, Glassnode published a post stating that Bitcoin's Unspent Output Profit Ratio (SOPR) data, standardized by drawdown, shows that short-term holders have already experienced a significant loss in this round of correction—a level comparable to the early stages of a bear market in past cycles.

Bitcoin's long-term holders are still overall in a profitable state, but as the bitcoins bought at higher prices gradually "age" and transition into the category of long-term holdings, the market's ability to absorb losses may increase. Historically, this transition often signals the confirmation of a bear market, although a similar market trend has not yet emerged.