Glassnode’s latest report highlights similarities to the 2022 bear market, with bitcoin supply quantiles showing over 25% underwater. Total supply in loss hits 7.1 million BTC. Capital flows into bitcoin remain lower than summer peaks. ETF demand weakens with IBIT seeing record outflows. Spot market activity and derivatives data reflect declining risk appetite. Traders cautious ahead of FOMC meeting.

Read more at Yahoo Finance: Bitcoin Market Echoes Early 2022 as Onchain Stress Mounts: Glassnode