Bitcoin's (BTC) recent decline toward the $60,000 level has pushed the market further into bearish territory, with new investors suffering huge unrealized losses, according to a Glassnode report on Wednesday. The firm noted that Bitcoin's earlier May rally now appears increasingly as a "bear bounce". An indicator highlighting the trend is the AVIV Ratio, which compares Bitcoin's spot price to the True Market Mean. The metric reached a four-year z-score low of -1.09 before recovering slightly to -1.06. "The fact that price has not bounced meaningfully away from this cyclical low over the past week underscores the ... (full story)