Analysis: BTC long-term holders not as fearful as in past cycles

The Relative Unrealized Loss for Bitcoin long-term holders (LTH) remains low compared to previous bear markets, according to on-chain analytics firm Glassnode. The firm noted on X that the metric peaked at around 15% in early April, whereas it has surpassed 75% in past deep bear markets. Glassnode explained that the fear among long-term holders has not been as extreme as in past cycles, adding that while Bitcoin saw a significant drop earlier this year, it failed to shake their conviction.