🎙CEO CryptoQuant:

⚫Bitcoin is falling due to ongoing selling pressure and a lack of new capital inflow.

⚫Realized capitalization has stabilized, indicating a lack of new capital. When market capitalization declines under such conditions, it is not a bull market. Early holders of assets have gained significant unrealized profits through purchases via ETF and MSTR. They have been taking profits since early last year, but strong capital inflow kept Bitcoin around 100,000. Now this inflow has dried up.

⚫MSTR was one of the main drivers of this rally. If Saylor does not significantly sell his assets, we will not see a 70% crash like in previous cycles. Selling pressure is still ongoing, so the bottom has not yet been determined, but this bear market will likely lead to a broad sideways consolidation.

🧷 An example of a positive scenario on the second chart.

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