Data from Glassnode suggests that the current Bitcoin boring price action may very well go on for another six months.
Bitcoin’s Sideways Slump May Not Be Near Finishing Yet
In its latest weekly report, the on-chain analytics firm Glassnode has discussed how the current lack of BTC volatility has compared to similar slumps during the previous cycles.
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To stack the cycles against each other, Glassnode has used the “price performance since ATH” metric, which keeps track of the percentage performance of Bitcoin relative to the last all-time high.
Here is a chart that compares the different BTC cycles using these criteria:
How the price performed in each cycle after the all-time high | Source: Glassnode's The Week Onchain - Week 32, 2023
One thing that immediately stands out in this graph is that Glassnode has used the April 2021 top as the bull market…
