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Does the market always go against the trend when #Bitcoin ETFs enter their most painful phase ?
- History has coincided three times since the ETF Spot was approved.
The unrealized loss (drawdown from ATH) has now reached nearly $9 billion, surpassing the previous low of around $8.5 billion.
This has happened in all three instances:
- Drawdown of approximately $4 billion → #Bitcoin surged immediately afterward.
- Drawdown of approximately $8.5 billion → #Bitcoin continued its strong recovery.
- Currently, the drawdown is nearly $9 billion → a new extreme point in the cycle.
At the same time, the price of #Bitcoin is returning close to the ETF Realized Price – the average cost basis for most ETF investors.
The market rarely bottoms out when everyone feels comfortable.
It usually bottoms out when most investors begin to doubt the uptrend.
If the pattern of previous ETF drawdowns continues to repeat, the current zone could be an accumulation phase for the next major rally in #Bitcoin.
#Bitcoin #BTC #ETF #Onchain #Crypto