glassnode: Most Bitcoin Short-Term Holders in the Red, Bigger Volatility on the Horizon
On July 3, glassnode, a crypto data analytics platform, posted that "with the price of Bitcoin falling to the $60,000 region, many digital asset investors are experiencing a degree of fear and pessimism. Investors often become apathetic when market volatility stagnates and goes quiet.
The Bitcoin market is in an interesting position right now, as overall investor profitability remains very strong from an MVRV ratio perspective, still holding a 2x earnings multiple on average, while the majority of short-term holders are in the red.
Many volatility metrics have declined significantly, suggesting greater volatility is on the horizon."
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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