The Bitcoin Market is Defining the Situation at the Beginning of 2022.

Early 2022 Signs Observed in the Bitcoin Market

Glassnode's weekly newsletter reveals that various onchain metrics now resemble the conditions at the beginning of the 2022 bear market. These metrics include increasing top buyer pressure and a sharp rise in the lost supply.

On the other hand, offchain indicators are signaling a slowdown in demand and a decrease in risk appetite. There has been a decline in ETF flows and weakening observed in spot trading volumes.