Glassnode: Bitcoin High Level Buyers Locked In and Transition to Long-term Holding Often Marks Bear Market Confirmation

Glassnode posted on the X platform that unrealized loss data of Bitcoin, standardized by pullback extent, shows short-term holders have endured significant losses in this adjustment phase—similar in magnitude to the early stages of bear markets in past cycles.
Overall, long-term Bitcoin holders remain in a profitable position, but as Bitcoin bought at high levels gradually "ages" and enters the long-term holding category, the market may face increased loss absorption pressure. Historically, this shift often signifies bear market confirmation, although no similar market trend is yet apparent.