Glassnode analysts called the 2022 crypto market downturn the worst in history
For the first time ever, the top cryptocurrencies are trading below their previous cycle highs
27.06.2022 - 12:35
284
2 min
0
What’s new? Experts at the analytics firm Glassnode said that the current bear cycle has become the worst in cryptocurrency history. According to them, the majority of investors continue to suffer losses, the reason was a combination of several factors at once. Among them, experts cited inflation, reduced liquidity in the economy, and high levels of leverage funds.
Material on the Glassnode website
What data have analysts cited? Glassnode notes that for the first time ever, bitcoin and Ethereum traded below their previous cycle highs. More and more investors are liquidating their assets, recording record realized losses. On June 20, this figure among BTC holders reached an all-time high of $7,3 billion, with the number of long-term investors falling by 178 000 over the week.
In June, when the BTC rate fell below $20 000, investors recorded a loss of $4,23 billion in just one day, which is 22,5% more than the previous record of $3,46 billion set in mid-2021. Given these figures, Glassnode believes that the market is in the midst of capitulation.
Capitulation is a process in which investors leave the market and sell off an asset at a loss because of a major collapse.
On June 13, experts at Glassnode announced the start of the “darkest” phase of the bear market. Although a number of indicators point to oversold conditions, bitcoin remains correlated with traditional markets and prices are declining concurrently.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 542
BTC
+1.13%
-
Ethereum
$3 356.34
ETH
+7.17%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.4
XRP
+23.86%
-
Dogecoin
$0.388447
DOGE
+1.62%
-
Cardano
$0.85812
ADA
+10.28%
-
Bitcoin Cash
$488.28
BCH
-5.11%
-
Polkadot
$6.06
DOT
+7.66%
-
Stellar XLM
$0.283421
XLM
+16.23%
-
Litecoin
$90.49
LTC
+1.21%