Bitcoin reached the lowest level of 2022 and fell below $ 23 thousand. On-chain data platform Glassnode, on the other hand, included very important notes about the largest cryptocurrency in its weekly report.

In Glassnode's report, it was stated that the Bitcoin price fell to the lowest level in more than a year, and the following statements were included:

   “Bitcoin and digital assets are once again experiencing the beginning of a chaos-filled week. In Bitcoin, which lost the opening level of $ 31 thousand 600, the macro market headwinds such as the 8.6% inflation level and the reversal in the 2 and 10-year bond yields began to bring the price down. continues, and thus the dollar index has started a great rally run… Due to these factors, Bitcoin has closed 10 of the last 11 weeks with red candles.”

realized price

In the report, which states that the deepest and darkest part of the current bear season is entered, it is stated that even long-term investors are starting to lose:

   “The usage area of ​​the Bitcoin network is getting less and less. Despite regular purchases of 'shrimp' with less than 1 BTC and 'whales' with more than 10k BTC, the price is not entering a stable area. Bear season "It's entering its deepest and darkest period right now. The market average is just slightly above costs right now, and even long-term investors are starting to make losses."

In the report, which stated that the price circulating around 20 thousand dollars was very low in the realized price region in the spot markets, it was written that this situation was last seen in the seasons of March 2020 and 2018:

   "At this period when the market was hovering around $20,000, a very important and fundamental on-chain metric was approached, the realized price. This metric represents the average price of each coin in the supply, and is valued with the last time it was spent on-chain. Realized price, which is $23,430. "The quoted price has been reached very few times, except during the worst periods of bear markets. An example of this period is the end of March 2020 and the end of the 2018 month season. During these periods, the market was progressing with unrealized losses."