This is why everyone is depressed in crypto

- Altcoin volumes have dropped by -50%

-Spot Bitcoin ETF AUM is down -$60B

-50% of total BTC supply is now underwater

-Bitcoin recorded 11 consecutive days of panic selling

-Open Interest collapsed -$140B (-60% from peak)

-Bitcoin holders realized $2.3B in losses in just 7 days

-Stablecoin market cap growth has stalled, signaling drying sidelined liquidity

-Miner reserves declining as operational pressure increases

-Funding rates persistently negative across major exchanges

-Only the 2nd time in history BTC posted negative returns for 5 straight months

-Bitcoin has remained in a Capitulation Zone (Z-score < -3) for 5 months

-Fear & Greed Index stuck in Extreme Fear (<20) for 20 days, 2nd longest streak ever

-Long-term holders beginning to distribute at a loss

-Net exchange inflows rising — more BTC moving to sell

-On-chain activity (active addresses & transactions) trending downward

-Venture funding into crypto startups down significantly year-over-year.