The 2022 $BTC bear market saw $191.1B in realized losses — FTX collapse pushed capitulation to extremes.
If that was the bottom, the next phase is tracking where profit-taking accelerates. Holders who bought the fear are now sitting on gains. Watch on-chain metrics for distribution signals as we move through this cycle.
This is how cycles work: maximum pain shakes out weak hands, patient capital accumulates, then the next leg up brings profit-taking pressure. We're likely entering that zone now. Hold your thesis, manage size, and don't get shaken by normal pullbacks.
If that was the bottom, the next phase is tracking where profit-taking accelerates. Holders who bought the fear are now sitting on gains. Watch on-chain metrics for distribution signals as we move through this cycle.
This is how cycles work: maximum pain shakes out weak hands, patient capital accumulates, then the next leg up brings profit-taking pressure. We're likely entering that zone now. Hold your thesis, manage size, and don't get shaken by normal pullbacks.