Blockchain data analytics firm Glassnode has analyzed that the Relative Unrealized Loss of long-term Bitcoin holders is currently hovering at the 15.5% level. This suggests that the market is still far from reaching historical bottom pain.

Currently, long-term holders are carrying an unrealized loss of about 15 cents (15.5%) per dollar of their portfolio value. Meanwhile, in the past, when the market reached the bottom of extreme downward cycles, this figure was recorded at over 50 cents (50%) per dollar.