I'm watching $BTC closely here. The run from $63K to $81.5K looks solid on the surface, but I'm not convinced it's clean accumulation yet.
Net Realized Profit/Loss (NRPL) spiked hard twice — $1.7B and $1.6B — classic signs of profit-taking. Since then, it's been sitting in the $400M-$650M range daily. That's not panic selling, but it's not fresh conviction either.
To me, this reads like steady distribution. Long-term holders trimming into strength. Not bearish, just rotation.
I'm holding my core position and staying patient. If we see a healthy pullback and NRPL cools off, I'll look to add. Until then, I'm letting the market show its hand.
This is a marathon. Time in beats timing.
Net Realized Profit/Loss (NRPL) spiked hard twice — $1.7B and $1.6B — classic signs of profit-taking. Since then, it's been sitting in the $400M-$650M range daily. That's not panic selling, but it's not fresh conviction either.
To me, this reads like steady distribution. Long-term holders trimming into strength. Not bearish, just rotation.
I'm holding my core position and staying patient. If we see a healthy pullback and NRPL cools off, I'll look to add. Until then, I'm letting the market show its hand.
This is a marathon. Time in beats timing.
