Glassnode: Data shows that in the current market phase, BTC still has potential upside room

BlockBeats News, January 30th, Glassnode stated in a research report released on January 29th that the speed of Bitcoin price appreciation is decreasing on a per-cycle basis, reflecting the maturation of the market. So far, the retracement in this cycle is very similar to the 2015-2017 cycle, with previous cycles also suggesting that a bull market may see an acceleration at this stage. To date, BTC's actual market value has increased 2.1 times in this cycle, lower than the 5.7x peak of the previous cycle, aligning with the 2015-2018 cycle. The frenzy stage has not yet fully impacted the actual market value, indicating that there is still potential room for further expansion in the market.