Bitcoin Realized Cap Data Reveals Sustained Panic Selling, Signaling Critical Phase in Bear Market

Analysis of Bitcoin's 7-day net position change in Realized Cap (RC) reveals sustained panic selling since June. RC shifts reflect on-chain profit/loss movement, not price changes. The prolonged divergence between price and RC, alongside deep negative RC values, suggests the market may be in mid-to-late bear phase, characterized by high-volume loss-taking. This bottoming process can be lengthy.

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