The data shows exactly what's happening. Institutional netflows are negative, and BTC is trading below the Short-Term Holder cost basis. This means anyone who bought recently is now underwater. That's why every little bounce gets sold off hard.
This isn't some mystery crash. It's distribution. Big wallets are taking profits and shaking out the weak hands who bought the top. The rising "realized losses" you see aren't from long-term holders; it's the new guys panic-selling for a loss. This is a textbook defensive move before the next leg up.
What specific on-chain metric tells you that the bottom is actually in?
https://i.redd.it/uokosfv5vohg1.jpeg
Posted by Crypto_future_V
3 Comments
>”This isn’t some mystery crash. It’s distribution.”
that’s every crash. This one is the world waking up to Epstein’s corrupting influence over the companies and developers who pushed for the transaction limiting protocol change (aka keeping the 1MB limit) people not yet aware of what was done but wondering if his cohort had injected back doors etc.
I’m panic buying
This kind of take is part of the denial stage. You guys still have anger, bargaining, depression, and acceptance (capitulation) to go. Bottom is likely around $15,000, possibly lower. It will be quite entertaining to watch the stages unfold.