Just looked at some on-chain data and noticed something interesting about Bitcoin's current price action. This crypto correction we're seeing doesn't really match the patterns from previous bear markets. The holder losses are way milder than what we usually see at cycle bottoms, which is kind of unusual.

Both short-term and long-term holders seem to be taking this crypto correction in stride so far. Back in past downturns, you'd see way more panic selling and deeper losses across the board. This time feels different - less capitulation, more like a normal pullback.

Makes you wonder if the market structure has actually changed or if we're just early in the correction phase. Either way, the data suggests this isn't shaping up like the bear market bottoms we've seen before.