Bitcoin has traded below its True Market Mean and Short-Term Holder Cost Basis for five straight months, one of the longest deep-value stretches in its history, according to Glassnode's latest onchain report.
Long-term holder loss realization now accounts for 43% of total realized value onchain, up from 15% in early February, and recently peaked at $280 million per day, the highest reading since December 2022.
According to The Block’s price page, bitcoin (BTC) traded below $63,000 on Thursday. The largest crypto asset has bounced between roughly $58,300 and $64,400 over the past week, still sitting well below the True Market Mean at $76,600 and the Short-Term Holder Cost Basis at $72,200, the metrics that Glassnode uses to define deep-value territory.
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Long-term holders are the dominant sellers
