#Glassnode: Exit the bear, as in 2018-2019!
The bear market of 2022-23 spent 179 days below the Realized Price, which makes it the second longest in the last four bearish cycles.
▫️There is a noticeable similarity in the strength of the market with what was observed in April 2019.
▫️A significant amount of coins changed hands (with the collapse of #FTX)
▫️BTC miners have suffered the most over the past 12 months. The average cost of mining BTC = from $17,000 to $18,798, depending on the analysis model.
▫️It is likely that miners across the board expect more favorable financial conditions in the future
But if BTC drops below $17,000 again, then miners will again experience acute stress.
The entire report (Eng.)
#observation #onchain #records
The bear market of 2022-23 spent 179 days below the Realized Price, which makes it the second longest in the last four bearish cycles.
▫️There is a noticeable similarity in the strength of the market with what was observed in April 2019.
▫️A significant amount of coins changed hands (with the collapse of #FTX)
▫️BTC miners have suffered the most over the past 12 months. The average cost of mining BTC = from $17,000 to $18,798, depending on the analysis model.
▫️It is likely that miners across the board expect more favorable financial conditions in the future
But if BTC drops below $17,000 again, then miners will again experience acute stress.
The entire report (Eng.)
#observation #onchain #records