Glassnode: The current cycle's deepest pullback of BTC is still relatively shallow compared to previous cycles.

On July 10th, Glassnode released a report stating that BTC recorded the deepest drop in the current cycle, with a trading price more than 26% lower than the ATH. Despite this, compared to previous cycles, the retracement is still relatively shallow in history. This price contraction has caused a large amount of short-term holder supply to be unrealized losses, with over 2.8 million BTC now underwater according to its on-chain acquisition price. Although the financial pressure on short-term holders has increased, the magnitude of locked losses is still relatively moderate compared to the market size.