Glassnode: Current BTC price performance is very consistent with the 2018-2021 cycle

ChainCatcher news, blockchain analysis company Glassnode posted on the social platform and disclosed that as the price of Bitcoin fell by 15.4% from its latest high of $73,000, this price performance is very consistent with the previous cycle of 2018-2021.

It is reported that relative to the 2018-2021 cycle, the market performance is almost the same as in December 2020 in terms of duration and distance from the peak in April 2021.

Data shows that Bitcoin prices hit US$73,100 on March 13, fell to a low of US$61,800 on March 20, and then recovered to the US$70,000 range. When the market encountered resistance, Bitcoin investors had sold and made profits of more than 26 billion, marking an increase in profit-taking incidents. A total of 2 million Bitcoins moved from "profitable" status to "lossy" status as the price retreated from its all-time high to recent lows.