Glassnode: The current BTC price performance is very much in line with the 2018-2021 cycle

ChainCatcher news, blockchain analysis company Glassnode disclosed on social media that as Bitcoin's price has fallen 15.4% from its latest peak of $73,000, this price performance closely aligns with the previous cycles from 2018 to 2021.

It is reported that, relative to the 2018-2021 cycle, the market performance is almost identical to that of December 2020 in terms of duration and distance from the peak in April 2021.

Data shows that Bitcoin's price reached $73,100 on March 13, then dropped to a low of $61,800 on March 20, and subsequently recovered to the $70,000 range. As the market faced resistance, Bitcoin investors had already sold off over $2.6 billion in profits, marking an increase in profit-taking events. As the price fell from its historical peak to recent lows, a total of 2 million Bitcoins transitioned from a "profit" state to a "loss" state.