According to the latest analysis by blockchain analysis company Glassnode, although the overall CPI inflation rate in the United States has reached a 40-year high of 9.1%, the Bitcoin market has ushered in an upward respite.
With the current Bitcoin realized price of $22,092, the average unrealized loss of Bitcoin investors is -4.67% compared to the current spot price of $21,060.
Still, with market prices stabilizing between $17,600 and $21,800 and unrealized losses totaling between -$165 billion and -$198 billion, overall confirmation that the August-November rally is more akin to a bear market A rebound in relief, not a bull market resumption.
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