The text discusses the current state of the Bitcoin market, with the cryptocurrency trading at $57,450, 22% below its all-time high of $73,835 reached on March 14. Despite the recent bearish price action, analysts say the average Bitcoin investor remains "relatively profitable."

According to market intelligence firm Glassnode, Bitcoin investor profitability data indicates that this remains a relatively shallow drawdown compared to historical bull cycles, suggesting that the aggregate investor remains in a relatively robust financial position. The ratio between total unrealized profit and unrealized loss shows that profits remain 6x larger than losses, which has been maintained above the current value for about 20% of trading days.

While the bull market seems to have taken a pause, short-term holders, those who have held BTC for less than 155 days, bear the brunt of the current market pressure as prices stay underwater. However, the analysts found that the losses experienced by the STH cohort have not yet reached the full-scale bear market territory.

Source: https://cointelegraph.com/news/bitcoin-investors-relatively-profitable-even-as-the-bull-market-takes-a-pause

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