According to ME News, on May 12 (UTC+8), Glassnode released data on X showing that Bitcoin’s long-term holder (LTH) relative unrealized loss reached approximately 15% in early April. Compared to historical bear market cycles, where this metric exceeded 75%, the recent market pullback has had a significantly milder impact on long-term holders. Analysis indicates that although recent price declines have created some paper losses, overall pressure remains far below historical cycle lows, suggesting the current downturn has not substantially tested the conviction of long-term holders. Structurally, this correction appears more like a mid-term volatility phase rather than a broad, cyclical capitulation event. (Source: ODAILY)
Glassnode: BTC Long-Term Holders Face Less Pressure Than in Past Bear Markets
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Summary
BTC prices declined in early April, pushing long-term holders to a peak unrealized loss of approximately 15%, according to Glassnode data. This is significantly lower than the 75%+ seen in previous bear markets. The current drawdown indicates less pressure on BTC’s dominance and greater resilience among long-term investors, suggesting this movement resembles a mid-cycle correction rather than a full bear market trend.
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