On November 4th, on-chain analytics firm Glassnode released its weekly market report. It analyzed that Bitcoin (BTC) has undergone a roughly 10% correction from its September highs, viewing this as a healthy reset to alleviate overheating. The report also mentioned the unauthorized outflow from Binance and the U.S. midterm elections.
In early October, over 97.5% of Bitcoin held by short-term holders (investors who purchased within the last 155 days) was in a state of unrealized profit, but this has now dropped to about 38%...