Bitcoin's On-Chain Data Signals Exit from Bear Market
Originally Published 2 years ago — by Cointelegraph
According to a report by Glassnode, Bitcoin has established a strong foundation below the $30,000 level, with similarities to early 2016 and early 2019 in terms of supply structure. Long-Term Holder (LTH) supply is just shy of a new all-time high, while short-term holders (STH) have seen their supply balance remain relatively constant. The report highlights the importance of patience in a market cycle and suggests that while a bull run may not arrive shortly, BTC is unlikely to visit prices below the $15,500 level.