glassnode: Bitcoin Realized Profit/Loss Ratio Continues to Decline, Reflecting Tightening Liquidity Conditions

Odaily News According to data disclosed by glassnode, the Bitcoin Realized Profit/Loss Ratio (90-day simple moving average) continues to show a downward trend (currently around 1.5) and is gradually approaching 1, reflecting increasingly depleted market liquidity conditions. Historical data indicates that if this indicator persistently falls below 1, it is typically accompanied by large-scale market capitulation, meaning realized losses across the entire market exceed profit-taking.