Bitcoin Price Drop: Is It Still High Compared to the Past?

Recently, the decline in the price of Bitcoin (BTC) continues to arouse curiosity among investors. However, analyses show that this drop may still not be sufficient compared to past cycles. According to Glassnode data, the Realized Profit-to-Loss Ratio is indicating that the market continues to provide strong profitability signals for investors.

Current data shows that the 90-day moving average is currently at 9.4. This indicates that the market has experienced a slight cooling since July, but it remains well above the levels observed during previous intermediate bear market periods. Glassnode notes that the current level of this indicator suggests that the market has not yet fully experienced a correction.

Historically, sharp declines in this ratio often overlap with medium-term bottom zones. However, current data clearly indicates that a significant portion of investors is still in profit and that the market cooling process is ongoing. According to the data shared by Glassnode, the current ratio is more than twice the average level of 4 seen during the bear market periods of 2021. This scenario shows that despite the recent drop in the price of Bitcoin, a significant portion of investors remains in profit and that selling pressure has remained limited.

This situation clearly signals that there is still room for relaxation before Bitcoin makes a new bottom. This process, which is an important observation area for investors, requires careful monitoring. Therefore, the developments in Bitcoin should be evaluated carefully in the decision-making process of investors, and the realized profit rates should be tracked together with the movements in the market.