🐋 WHALE WATCH: $BTC has been consolidating but it is definitely not in bottom territory yet.


While the panic selling has cooled off we are still seeing high unrealized profits.
Historically a true cycle bottom only forms after these profit levels turn negative.
We are in a recovery phase but expect more sideways chop before the real move.
Are you buying this range or waiting for a deeper flush ?
BTC0.5%
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Jeremytrader
· 5h ago
It is true that there are unrealized gains, but the current consolidation also shows that there is a silent demand absorbing the supply without letting the price drop sharply. Maybe the 'bottom' of this cycle is higher than many expect.
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