🚨 SHOCKING $BTC ON-CHAIN TRUTH REVEALED 🚨

⚠️ Glassnode's Relative Unrealized Loss shows the market is NOT capitulating yet.

• Orange area (percentage underwater) is still very low post-peak.

• This means the majority of $BTC holders are still sitting on massive profits.

• True bear market bottoms require this metric to spike above 0.5 (panic levels).

• The current selling pressure is from profit-taking, not forced capitulation.

The road to the true bottom is likely not over. We are adjusting, not surrendering.

#BTC #OnChain #CryptoAnalysis #Glassnode 📉

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