【Glassnode: The severity of market retracements is gradually weakening during the rise of the Bitcoin bull market】Golden Finance reported that data disclosed by the on-chain analysis company Glassnode showed that although the sharp rise in prices in the Bitcoin bull market is usually accompanied by extreme selling pressure, as the market size expands, the severity of market retracements during each bull market rise has gradually weakened. The deepest retracement in this cycle occurred on August 5, 2024, with a drop of 32%. During most retracements, the price of Bitcoin fell only 25% below the local high, indicating that the volatility of this cycle is one of the lowest to date. This may reflect that the launch of spot ETFs has opened a huge demand window, while the interest of institutional investors is also growing. The supply of most short-term holders (calculated by the number of coins) is "underwater" compared to their cost price, but they have not suffered extreme unrealized losses associated with market deterioration.

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