Key Insights from Glassnode Analysis
Glassnode's recent on-chain analysis, published on October 20, 2025, highlights Bitcoin’s low Relative Unrealized Loss, underscoring ongoing bull market conditions despite a recent price correction.
This signals market resilience, as the metric remains below 5%, reassuring investors amid volatility and suggesting potential for price recovery if critical support levels hold.
Market Resilience and Support Levels
Glassnode's analysis highlights Bitcoin's Relative Unrealized Loss remains under 5%, aligning with bull market patterns despite recent price corrections. This metric serves as a hallmark of ongoing bullish conditions, reflecting market resilience.
Glassnode, a leading analytics platform, reported a pivotal market update. Bitcoin recovered the 0.85 cost-basis band, signaling potential momentum if maintained. Rafael Schultze-Kraft, Co-Founder/CTO, Glassnode, remarked, "Bitcoin has reclaimed the 0.85 cost-basis band, turning a key risk level back into support. If buyers can hold this zone, momentum can rebuild from here, but lose it again, and the market likely revisits lower territory. A pivotal area to watch." Market dynamics could shift if this support is lost.
Bitcoin has reclaimed the 0.85 cost-basis band, turning a key risk level back into support. If buyers can hold this zone, momentum can rebuild from here, but lose it again, and the market likely revisits lower territory. A pivotal area to watch.
Rafael Schultze-Kraft, Co-Founder/CTO, Glassnode
Investor Sentiment and Long-Term Holder Confidence
The resilience in Bitcoin's metrics has led to minimal impact on market sentiment and investment strategies. Investors remain cautiously optimistic while long-term holders continue to exhibit confidence amid volatility.
The financial implications highlight potential supporter roles in stabilizing price action. The market has seen no major institutional sell-offs, while realized cap growth indicates sustainable capital inflows during the market drawdown.
Underpinnings of Market Stability
Despite fluctuations, unrealized loss ratios depict Bitcoin's enduring investor trust. As high as 95% of BTC addresses remain in profit, suggesting robust market underpinnings against broader economic pressures.
Historical data reveals bull market characteristics with low unrealized losses seen in prior cycles. This trend is underscored by current metrics, reinforcing Bitcoin's structural integrity within its economic cycle, according to Glassnode's analysis.