Bitcoin’s Market Structure Now Resembles Early 2022 — Cause For Concern?
Posted On December 4, 2025
Bitcoin (CRYPTO: BTC) has bounced off recent lows but continues to trade in a structurally fragile environment, defined by weakening demand and rising on-chain stress.
What Happened: Glassnode data shows Bitcoin holding above the True Market Mean, a key valuation band that historically separates shallow corrections from deeper bear phases.
But the broader market setup is increasingly echoing early 2022, with over 25% of BTC supply now sitting at a loss and price trading below …
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