Glassnode: The current cycle's deepest drawdown of Bitcoin is still shallower compared to past cycles

ChainCatcher message, Glassnode released a report stating that Bitcoin has recorded the deepest decline of the current cycle, with trading prices more than 26% lower than ATH. Nevertheless, compared to past cycles, the magnitude of the pullback remains relatively shallow in historical terms.

This price contraction has caused a significant amount of short-term holder supply to fall into unrealized losses, with over 2.8 million BTC now underwater based on their on-chain acquisition prices. While the financial pressure on short-term holders has increased, the scale of locked-in losses remains relatively moderate compared to the market size.