$BTC short term #holders are capitulating again.

The latest entity adjusted short term holder net realized profit and loss data has flipped deeply negative. Realized losses are spiking into zones that historically aligned with capitulation phases near cycle turning points.

When short term holders start locking in heavy losses, it reflects stress driven selling, not strategic rotation. Weak hands exit while stronger participants quietly absorb supply.

Right now, price is compressing while realized losses continue to expand. That divergence often precedes a volatility expansion.

BTCUSDT

無期限

64,117.8

-0.57%

If selling exhaustion kicks in, the supply overhang can clear quickly and a reflexive upside move may follow.