{"id":467991,"date":"2022-06-27T08:50:33","date_gmt":"2022-06-27T05:50:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/2022-bear-market-has-been-the-worst-on-record-glassnode\/"},"modified":"2022-06-27T08:50:33","modified_gmt":"2022-06-27T05:50:33","slug":"2022-bear-market-has-been-the-worst-on-record-glassnode","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/2022-bear-market-has-been-the-worst-on-record-glassnode\/","title":{"rendered":"# 2022 bear market has been the worst on record \u2014 Glassnode"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f1d220f200\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f1d220f200\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/2022-bear-market-has-been-the-worst-on-record-glassnode\/#%E2%80%9D_2022_bear_market_has_been_the_worst_on_record_%E2%80%94_Glassnode_%E2%80%9C\" >&#8221; 2022 bear market has been the worst on record \u2014 Glassnode &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_2022_bear_market_has_been_the_worst_on_record_%E2%80%94_Glassnode_%E2%80%9C\"><\/span>&#8221; 2022 bear market has been the worst on record \u2014 Glassnode &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Several factors have contributed to making the current crypto bear market the worst ever recorded as most Bitcoin (BTC) traders are underwater and continue to sell at a loss, according to Glassnode.<\/p>\n<p>Blockchain analysis firm Glassnode\u2019s Saturday\u00a0report\u00a0titled \u201cA Bear of Historic Proportions\u201d\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/insights.glassnode.com\/2022-bear-of-historic-proportions\/\">outlines<\/a> how Bitcoin\u2019s current dip below the 200-day moving average (MA), negative deviation from realized price and net realized losses have conspired to make 2022 the worst in Bitcoin\u2019s history:<\/p>\n<blockquote><p>\u201cIn the midst of this, Bitcoin and Ethereum have both traded below their previous cycle ATHs which is a first in history.\u201d<\/p><\/blockquote>\n<p>The first and most obvious indication of a bear market is when the spot price of Bitcoin (BTC) falls below the 200-day MA and an even more extreme scenario, the 200-week MA. To highlight how rare the current price levels are, Glassnode showed that during the 2022 bear market, Bitcoin has fallen below half the 200-day MA level.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/0df9e2de-1315-4964-8325-1b2855aa6eb3.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin price has fallen below 0.5 MM for the first time since 2015: Glassnode<\/em><\/figcaption><\/figure>\n<p>Glassnode also demonstrated that falling below 0.5 the Mayer Multiple (MM) is an exceedingly rare occasion that hasn\u2019t h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened since 2015. The MM factors in price changes above and below the 200-day MA to show overbought or oversold conditions. The report states, \u201cOnly 84 out of 4160 trading days (2%) have recorded a closing MM value below 0.5:\u201d<\/p>\n<blockquote><p>\u201cFor the first time in history, the 2021-22 cycle has recorded a lower MM value (0.487) than the previous cycle\u2019s low (0.511).\u201d<\/p><\/blockquote>\n<p>Confirming the severity of current market conditions is the spot price falling below the realized price, which has forced traders to increasingly sell their coins at a loss. Glassnode noted that such a cascade effect is \u201ctypical of bear markets and market capitulations.\u201d<\/p>\n<p>Glassnode said instances when spot prices trade below the realized price are uncommon, noting that this is only the third time this has happened in the last six years and the fifth time it\u2019s happened since Bitcoin\u2019s launch in 2009:<\/p>\n<blockquote><p>\u201cSpot prices are currently trading at an 11.3% discount to the realized price, signifying that the average market participant is now underwater on their position.\u201d<\/p><\/blockquote>\n<p>The rarity of this event is illustrated by Glassnode\u2019s model showing that just 13.9% of all Bitcoin trading days have seen spot prices dip below realized prices.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/e64e61fa-7ca7-48eb-a2c4-a46cf6ed58b0.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Just 13.9% of trading days have seen spot prices below realized price: Glassnode<\/em><\/figcaption><\/figure>\n<p>These conditions are exacerbated by investors locking in their losses on the largest crypto by market cap. When Bitcoin fell below the $20,000 mark in June 2022, Glassnode wrote that BTC investors locked in \u201cthe largest daily USD denominated realized loss in history:\u201d<\/p>\n<blockquote><p>\u201cInvestors collectively locked in a loss of -$4.234B in a single day, which is a 22.5% increase from the previous record of $3.457B set in mid-2021.\u201d<\/p><\/blockquote>\n<p>Factoring in all the negative metrics, Glassnode assesses that the market is in the midst of a capitulation event. Cointelegraph corroborated this assessment on Friday by pointing out that miners have started selling their stacks, which is another indicator that capitulation has taken place. Such events often signify the bottom price range of a cycle.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>5 indicators traders can use to know when a crypto bear market is ending<\/em><\/strong><\/p>\n<p>BTC is currently down 70% from its November 2021 high, trading at $21,207,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">according<\/a> to CoinGecko.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/2022-bear-market-has-been-the-worst-on-record-glassnode\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; 2022 bear market has been the worst on record \u2014 Glassnode &#8220; Several factors have contributed to making the current crypto bear market the worst ever recorded as most Bitcoin (BTC) traders are underwater and continue to sell at a loss, according to Glassnode. Blockchain analysis firm Glassnode\u2019s Saturday\u00a0report\u00a0titled \u201cA Bear of Historic Proportions\u201d\u00a0outlines&#8230;<\/p>\n","protected":false},"author":1,"featured_media":467992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvNGFiODZkMTMtNmVkZi00NDFlLTgxNTctYmNhZjJkMzhlZGVhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[79806,74862,81951,74937],"class_list":["post-467991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-analysis","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-price"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/467991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=467991"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/467991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/467992"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=467991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=467991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=467991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}