Where we are in the market is extremely simple.

Emotions are noisy - data is not.
Here is what you need to understand.
Right now, we have:
1. Highest amount of Longterm holder supply ever
2. With the highest amount of STH + LTH supply in loss
So LTHs are buying and holding more than ever, and we know they are happy to hold them underwater, because their supply is in the highest loss ever.
All these numbers are greater than every previous bear market bottom, ever.
In addition to this, the total numbers of Bitcoins in a loss reached its highest level ever at 10.79m coins, surpassing 10.53m in 2022.
So, at $58k, we are deeper into loss territory than ever before.
Does this mean the price wont go lower for sure? No.
But what it does tell you is that these levels are short lived, and the deepest value levels we have ever seen.
Bitcoin has never ever hung around at these levels for long, and anyone that has ever bought anything during these levels, has massively won.
You all need to stop overcomplicating it and getting emotional.
This IS extremely deep value territory, and that is just it.
We are at every single bear market bottom levels data wise.
So why tf are you all still worried about more down?
Even if it comes, it is not gonna last very long at all.
Buy things and wait.
Thats it.