In this YouTube video, Glassnote analysis suggests that the market is currently in a bear market based on the MVRV ratio, which measures investor profitability. The current MVRV ratio is at 0.85, indicating negative market territory and a bearish divergence. Despite this, supply continues to be near multi-year lows, which suggests that long-term holders are not selling off their assets. This could potentially support the market and prevent further decline. The video also mentions a free ebook on cryptocurrency and provides tips for getting started with cryptocurrency trading. Overall, the analysis points to a bearish market trend but also suggests some factors that could potentially stabilize or support the market in the long term.
