According to Glassnode, Bitcoin's outlook is disappointing: "It Looks Like a Bear Beginning" - Coin Bulletin

Short-term Bitcoin investors are facing significant losses, which resembles the scenario at the beginning of previous bear markets.

According to the on-chain analysis platform Glassnode, short-term Bitcoin investors are facing significant losses compared to the current depth of the decline. This situation bears similarities to the early stages of bear markets in previous cycles.

According to Glassnode's data, unrealized losses are used to measure how much loss investors have experienced compared to the current decline. Short-term investors are currently significantly in loss according to this metric. This table has historically been seen during the periods when bear markets began.

Long-term investors on the (LTH) front are in a more positive position. This group is still generally in a profitable position. However, Glassnode points out that as investors who bought Bitcoin at high prices transition to long-term investor status over time, the rate of losses may increase.

Such a transformation has generally occurred in the past during periods when a bear market was confirmed. However, at present, there is no clear bear market signal yet.