The on-chain analytics firm Glassnode has revealed in a report how this historical bear market confirmation is yet to appear for Bitcoin in the current cycle. Bitcoin Unrealized Loss Hasn’t Spiked For Long-Term Holders Yet In its latest weekly report, Glassnode has discussed about the trend in the Unrealized Loss for the two major Bitcoin cohorts. The “Unrealized Loss” is an on-chain indicator that measures the total amount of loss that the BTC addresses as a whole are carrying. The metric works by going through the transfer history of each coin in circulation to see what price it was last moved at. If this previous trading price is more than the current spot price for any token, then that particular token’s assumed to be holding a net loss. Related Reading: Bitcoin Realized Cap Sets New Record, But Momentum Fades The indicator takes the difference between the two prices to find the exact measure of this loss. It then adds up this value for all coins part of the circulating supply to find the network ..
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