On-chain analytics firm Glassnode released its weekly market report on the 8th, highlighting that Bitcoin (BTC) has been trading below the primary acquisition cost (cost basis) of major investors for five months, remaining in what is statistically considered a 'deep value' zone.
While the process of forming a market bottom is progressing, it has not yet been completed, the report analyzes.
Glassnode also notes recent purchases and overall market...