- Blockchain analysis firm Glassnode has revealed that the recent performance of the Bitcoin price closely resembles the 2018-2021 cycle.
- Bitcoin's price fell by 15.4% from its all-time high of $73,000, mirroring a similar situation observed during the December 2020 period.
- Data indicates that Bitcoin reached a peak of $73,100 on March 13, dropped to a low of $61,800 on March 20, and then recovered to the $70,000 range.
- The market encountered resistance, leading Bitcoin investors to realize profits exceeding $2.6 billion, suggesting an increase in profit-taking activities.
- Following the decline from its all-time high to the recent low, approximately 2 million Bitcoins have shifted from a 'profit' to a 'loss' state.
