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Bitcoin's recent surge to a new alltime high of around $73,000, followed by a dip and recovery to $68,000, raises questions about whether this marks a cycle top after a remarkable 175% increase this year. The discussion delves into the impact of ETFs and market corrections. Utilizing onchain metrics like MVRV and Aviv ratios, it scrutinizes profittaking and investor behavior, notably among longterm holders. The substantial realized profits underscore a vibrant market shaped by ETFs, influencing Bitcoin's valuation and investment landscape.

Written Report: https://insights.glassnode.com/thewe...
Live Dashboard: https://studio.glassnode.com/dashboar...
Framework for Bull Markets: https://glassno.de/49O5MfU

Topics for Discussion:
Analysis of Bitcoin's Price Dynamics Upon Reaching New ATHs
Historical Context of Current ATH Compared to Previous Cycles
Impact of Market Corrections on Cycle Top Predictions
Insights from OnChain Metrics: Investor ProfitTaking Behavior

Key Dashboards
Mastering Realized Cap Report: https://glassno.de/3PA7kCy
Mastering Realized Cap Dashboard: https://glassno.de/3YgoxUg
♟ Mastering MVRV Dashboard: https://glassno.de/3IRQB9k
Start your Glassnode Advanced free trial today: https://glassno.de/3QFXu0S
Technical Analysis Toolbox: https://glassno.de/3MPzgRv
Spotting Cycle Tops and Bottoms Dashboard: https://glassno.de/cycleextreme
Recovering From a Bitcoin Bear Dashboard: https://glassno.de/recoveringbear
Exchanges Dashboard: https://glassno.de/3RimWJY
Realized Profit Loss Dashboard: https://glassno.de/3H6c8dz
Pricing Models Dashboard: https://glassno.de/3J9hVkW
HODL Wave Dynamics: https://glassno.de/3xzSmTn
Bitcoin Price Performance Dashboard: https://glassno.de/3UwBRCf
Shrimp Supply Sink Report: https://glassno.de/41hmhgp
Realized Profit/Loss Momentum: https://glassno.de/3P6XkAq
Capital Rotation Dashboard: https://glassno.de/3P78rbu

Getting Started with Glassnode:
Navigating Tops and Bottoms: https://glassno.de/3OpgSgA
⛓ Onchain Activity: https://glassno.de/3xXM13Q
⛏ Mining Fundamentals: https://glassno.de/3nnfL5m
Supply Dynamics: https://glassno.de/3NyhPlK
Introduction to Lifespan: https://glassno.de/3ehCmzn
Realized and Unrealized Value: https://glassno.de/3ExnCa1
Long and ShortTerm Holders: https://glassno.de/3QLUzCt

Timestamps
0:00 Introduction
2:30 Bull Market Corrections
6:44 NUPL by Cohort
10:33 MVRV Analysis
13:04 MVRV Pricing Bands
15:06 The AVIV Ratio and Market Phases
19:46 LongTerm Holder Binary Spending Indicator
21:20 Realized Profit and Realized Cap
24:19 Summary and Conclusions

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About:
The Glassnode video report provides a weekly analysis update of the trends, performance, and onchain metrics for Bitcoin and the crypto market.

Disclaimer:
This report does not provide any investment advice. All data is provided for information purposes only. No investment decision shall be based on the information provided here and you are solely responsible for your own investment decisions.