Glassnode said Bitcoin remains in a “deep value” zone after spending five months below its true market mean and the short-term holder cost basis.
According to PANews, the report said long-term holders’ realized losses accounted for 43% of total realized value, with losses peaking at $280 million per day, the highest level since December 2022.
Glassnode added that ETF net outflows have eased from a peak in June, but remain net negative on a monthly basis. Average daily ETF trading volume was reported at $650 million to $950 million, down about 80% from a peak in October 2025.
In derivatives, positioning has shifted cautiously toward longs, with the put/call ratio at its lowest level in 2026. However, the options market still shows a defensive skew, and the spot price remains well below the $66,000 max pain level cited in the report.
Bitcoin Remains in Deep Value Zone After Five Months Below Key Cost Bases, Glassnode Says
2026-07-09 00:43:46
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
