The market intelligence platform Glassnode indicated that Bitcoin never closed below its Realized Price in this bearish market, making June’s low the most superficial of the last three cycles. Unlike previous bearish cycles, where BTC’s price spent months trading and closing below its Realized Price, in this cycle there has never been a daily close below that metric.
Because of this, the floor or low reached in June remained comfortably above the Realized Price. When compared with the three prior cycles, this behavior makes this drop the most shallow in recent times for a BTC bear market.
Because of this, the floor or low reached in June remained comfortably above the Realized Price. When compared with the three prior cycles, this behavior makes this drop the most shallow in recent times for a BTC bear market.
