Data analysis company Glassnode posted on X platform stating that compared to historical cycles, Bitcoin is still in a relatively early price discovery stage. The data shows that in previous frenzied stages, Bitcoin prices have experienced multiple pullbacks of over 10%, with most of them being even larger with pullbacks of over 25% being very common. However, in this current cycle, since Bitcoin broke its historical high, there have only been two corrections of around 10%.
Glassnode: Bitcoin is still in a relatively early stage of price discovery
![](https://public.bnbstatic.com/image/pgc/202303/b79ad6e3d66b98bb791352b3abb6de2c.jpg)
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