Glassnode: The deepest retracement of Bitcoin’s current cycle is still shallower than in past cycles

Glassnode released a report stating that Bitcoin had recorded its deepest drop in the current cycle, with a trading price more than 26% lower than its ATH. Nevertheless, compared to past cycles, the retracement is still relatively shallow in history. This price contraction has caused a large number of short-term holders to suffer unrealized losses, with over 2.8 million BTC currently underwater according to their on-chain acquisition price. Although the financial pressure on short-term holders has increased, the scale of locked losses is still relatively moderate compared to the market size.