Bitcoin Price Mirrors Early 2022 Sideways Market, With Over 25% Supply Underwater

Glassnode’s analysis reveals a resemblance between current Bitcoin price market conditions and the early 2022 sideways market. The study highlights rising supply of BTC held at a loss, with over 25% of the total supply currently underwater. Total Supply in Loss has surged to roughly 7.1 million BTC on a 7-day average, mirroring levels seen during the first quarter of 2022’s sideways market.