#Bitcoin Market Volatility Hits New Lows! 📉
On-chain analytics firm Glassnode reports that although Bitcoin prices typically experience significant fluctuations during bull markets, the extent of market pullbacks in this cycle has noticeably diminished. The maximum drawdown on August 5, 2024, was only 32%, and in most cases, prices only fell below the local high by 25%.
This may be related to the launch of spot ETFs and increased interest from institutional investors. While short-term holders are facing unrealized losses, market sentiment remains stable. What do you think? Feel free to share your thoughts in the comments!