2022 crypto bear market worst in history: Report
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Bitcoin (BTC) and ETH (ETH) have traded below their previous cycle all-time highs (ATHs), a first in history, a report says. All 2021-22 investors are now underwater, according to a report compiled by blockchain analytics firm Glassnode. The report further adds that 2022 has been a tough year for digital assets, with the bear market hitting both BTC and ETH very hard. Spot prices are currently trading at an 11.3% discount to the realized price, signifying that the average market participant is now underwater on their position. The Mayer Multiple records price deviations above and below, to denote overbought or oversold conditions, respectively. For the first time, the 2021/22 cycle has recorded a lower MM value (0.487) than the previous cycle's low. Source