Bitcoin’s recent market correction from its all-time high of over $108,000 is seen as a cooling phase with low investor stress, indicating the bull market is still strong. Glassnode’s report shows a decrease in BTC held at an unrealized loss, suggesting a less distressed market environment. The MVRV ratio and other metrics point to a positive sentiment in the market despite the pullback from highs. Bitcoin is currently trading above the 1-year mean but below the upper bullish threshold, indicating a bullish phase. The market structure has evolved with reduced volatility and increased institutional participation, contributing to a more stable market. Overall, Bitcoin’s market remains resilient with a positive outlook, but a failure to regain upward momentum could increase pressure on short-term holders.

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