Bitcoin Faces Prolonged Sell-Side Pressure as Glassnode Warns of 6-Month Downtrend

Bitcoin (BTC) has experienced a significant decline of approximately 28% this month, raising widespread concerns about the stability of the digital asset market. On-chain data from Glassnode reveals that the realized profit/loss ratio has dropped below 1, a key metric signaling intensified sell-side pressure as investors realize actual losses. Analysts suggest that recent price bounces are fragile and do not necessarily indicate a sustainable recovery. Projections now point toward extended downside pressure that could last for the next five to six months. Historically, phases where the market realizes losses often precede prolonged periods of price stagnation or further decline. Consequently, traders are closely monitoring key support levels as bearish sentiment continues to dominate the crypto landscape.