On-chain analytics form Glassnode has highlighted an important diversion between Bitcoin (CRYPTO: BTC) and XRP (CRYPTO: XRP).
What Happened: In their latest report, the firm points out the catalyst-driven growth for Bitcoin, compared to XRP’s retail-driven speculation.
Bitcoin: Seller Exhaustion, But No Clear Trend Reversal
- Bitcoin has been in a steady downtrend, with $76,000–$85,000 emerging as a key range where reactive buying appears. The realized profit/loss ratio suggests seller exhaustion near $76,000–$80,000, but relief rallies haven’t led to sustained momentum.
- A recent “On-Chain Death Cross” signals a potential prolonged bearish phase of 3–6 months, mirroring previous cycles. Bear market characteristics—weak liquidity, negative sentiment, and increased loss-taking—are evident, though not as extreme as past bear markets.
- Around 4.7 million BTC are …
