Glassnode: Bitcoin Rebounds Are Local Rallies, Not a Trend Reversal Yet

TLDR: Bitcoin trades below the $68,500 Short-Term Holder Cost Basis and $75,800 True Market Mean.  Relative Unrealized Loss peaked near 25%, far below the 60%+ seen in prior cycle bottoms.  Realized Profit/Loss Ratio sits at 0.75, well above the sub-0.5 seller exhaustion threshold. Perpetual demand turns positive and ETF outflows ease, but Coinbase Premium stays [...]

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