Bitcoin Rebounds in Bear Market, But Confidence Remains Low, According to Glassnode Analysis

Market Stabilizes but Lacks Sufficient Demand

Leading on-chain data analytics firm Glassnode released its latest weekly report on Bitcoin on the 8th, noting that the market is showing signs of stabilization following a sharp decline. However, there is still no strong demand to decisively shift the trend, the report highlighted.

According to Glassnode's on-chain analysis, Bitcoin remains in a bear market structure. The firm's data shows that the realized price (the average cost basis of all Bitcoins in circulation...