The market is not in a true bear cycle. On-chain data reveals most holders are still in massive profit. This isn't surrender territory. New capital entering at the highs is taking losses, yes, but the overall picture shows immense unrealized gains. This means the real capitulation phase is likely ahead. Fear is not yet dominant. The path downwards is not complete. Prepare for further downside pressure driven by profit-taking, not panic selling. The bottom is not yet in sight.
Disclaimer: Trading involves risk.
$BTC #Crypto #Trading #OnChain {future}(BTCUSDT)
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