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#STH Net Realized P&L recovered from -0.44% at February lows to briefly positive, before fading back to -0.02% in mid-May, neatly mapping the rally and subsequent consolidation 📉🔴. Directional #improvement is constructive but magnitude falls short of levels needed for sustained #expansion beyond #TrueMarketMean. Recovery into positive territory = pre-bull transition. Reversal toward February lows = bear market continuation 💪⚡️🎯👀
#crypto