According to glassnode, BTC's Short-Term Holder Coin Days Destroyed (CDD) has reached -12.8K coin days/hr, indicating a significant fear-driven sell-off. This metric, adjusted with the Spent Output Profit Ratio (SOPR), mirrors the market conditions of August 2024, suggesting a similar economic weight of spent coins during sell-offs.

According to @glassnode, the SOPR and Realized Loss Z-Scores for BTC have not reached exhaustion levels, suggesting that a market bottom is not yet confirmed. Traders should be aware of potential downside risk until these indicators align, signaling a possible bottoming process.