In its weekly on-chain analysis report on Oct. 10, Glassnode stated that Bitcoin has “remained remarkably stable” in recent weeks when compared to traditional asset markets such as forex, volatile equity, and credit.
Against a backdrop of central bank rate hikes, rampaging inflation, and a strong US dollar, Bitcoin has been uncharacteristically low in volatility, it added.
The report compared the current market conditions to previous bear market lows to conclude that “on-chain metrics, market structure, and investor behavior patterns are dotting of the i’s, and crossing the t’s for a textbook bear market floor.”
In stark contrast to volatile equity, credit, and FX markets, #Bitcoin has remained remarkably stable in recent weeks.
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