A report from on-chain analytics firm Glassnode has highlighted how transitions into strong upside phases have historically required liquidity to hold above a key threshold. Bitcoin Rally Could Require Realized Profit/Loss Ratio To Rise Above 5In its latest weekly report, Glassnode has talked about liquidity conditions present on the Bitcoin network as the asset’s price has gone through a drawdown following its failed recovery attempt earlier in the month. Related ReadingBitcoin Death Cross That Last Preceded A 66% Drop Is Back 1 day ago“Any meaningful transition back toward a sustained rally should objectively be reflected in liquidity-sensitive indicators such as the Realized Profit/Loss Ratio (90D-SMA),” explained the analytics firm. The Realized Profit/Loss Ratio refers to an indicator that, as its name suggests, compares the realized profit and loss that BTC investors realize from their transactions. 1 day agoThat said, twice in this cycle alone, Bitcoin liquidity has gone under this level and managed to return above it.