Bitcoin

<ul><li>Glassnode highlights the historical significance of price levels between $17.6k and $11.1k as indicators of market psychology during lows.</li><li>The 2023 market rally was driven by accumulation when Bitcoin surpassed $30,000, indicating FOMO among investors.</li><li>With STHs incurring losses, the crypto market is grappling with uncertainty tied to macroeconomic factors, regulatory pressures, and liquidity constraints.</li></ul>In a recent <a href="https://insights.glassnode.com/the-week-onchain-week-38-2023/" rel="noopener noreferrer nofollow">report</a> from Glassnode Insights, it is pointed out that the cryptocurrency market&#39;s sentiment has taken a negative turn as a significant portion of Short-Term Holders (STH) find themselves in a losing position. The report implies a suggestion that the market is experiencing an early-stage shift in market psychology and confidence.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/b3e2f9c5603d43fdbdc40f8e574f3344.png" />The report analyzes two on-chain pricing models - Investor Price ($17.6k) and Delta Price ($11.1k), both of which have historical significance during market lows. The report read:“Price action across both the 2018-19 and 2022-23 cycles spent a similar amount of time trading within the bounds of these price models at the lows. Of note is that the market revisited the Investor Price level during the chaos of the March 2020 sell-off.”Read full article a<a href="https://cryptotale.org/investor-confidence-slides-as-short-term-holders-face-losses/" rel="noopener noreferrer nofollow">t CryptoTale.</a>

Investor Confidence Slides as Short-Term Holders Face Losses

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