AlexGii

Bitcoin has fallen almost by half, but a true capitulation still hasn’t happened
Over the past 12 months, holders have recorded a net loss of roughly 136,000 BTC. For comparison, around the lows of previous cycles, annual realized losses reached up to 1.3 million BTC and up to 3.7 million BTC
That is, the current metric is only a small fraction of the scale of panic selling seen in prior bear markets
At the same time, the current drop remains the mildest in history. Depending on the calculation point, the drawdown is about 49-51%, while major bear cycles in 2014, 2018, and 2022 ended with declines of 77-84%. By timing, the current phase is also still shorter than the past structural bear markets, which lasted about 321-385 days
It’s still too early to draw conclusions, of course—this bear market is definitely different from previous ones, both in terms of on-chain data and the political and, overall, global situation. I’ll repeat: current levels are suitable for a gradual spot position build-up and are definitely not the best option for margin .#USD1StakingEarnUpTo8%APR @ThisIsTranslateContent:TroyGod @

Bitcoin has fallen almost by half, but a true capitulation still hasn’t happened
Over the past 12 months, holders have recorded a net loss of roughly 136,000 BTC. For comparison, around the lows of previous cycles, annual realized losses reached up to 1.3 million BTC and up to 3.7 million BTC
That is, the current metric is only a small fraction of the scale of panic selling seen in prior bear markets
At the same time, the current drop remains the mildest in history. Depending on the calculation point, the drawdown is about 49-51%, while major bear cycles in 2014, 2018, and 2022 ended with declines of 77-84%. By timing, the current phase is also still shorter than the past structural bear markets, which lasted about 321-385 days
It’s still too early to draw conclusions, of course—this bear market is definitely different from previous ones, both in terms of on-chain data and the political and, overall, global situation. I’ll repeat: current levels are suitable for a gradual spot position build-up and are definitely not the best option for margin .#USD1StakingEarnUpTo8%APR @ThisIsTranslateContent:TroyGod @

Bitcoin has fallen almost by half, but a true capitulation still hasn’t happened
Over the past 12 months, holders have recorded a net loss of roughly 136,000 BTC. For comparison, around the lows of previous cycles, annual realized losses reached up to 1.3 million BTC and up to 3.7 million BTC
That is, the current metric is only a small fraction of the scale of panic selling seen in prior bear markets
At the same time, the current drop remains the mildest in history. Depending on the calculation point, the drawdown is about 49-51%, while major bear cycles in 2014, 2018, and 2022 ended with declines of 77-84%. By timing, the current phase is also still shorter than the past structural bear markets, which lasted about 321-385 days
It’s still too early to draw conclusions, of course—this bear market is definitely different from previous ones, both in terms of on-chain data and the political and, overall, global situation. I’ll repeat: current levels are suitable for a gradual spot position build-up and are definitely not the best option for margin .#USD1StakingEarnUpTo8%APR @ThisIsTranslateContent:TroyGod @