⚠️ The 2022 Bear-Market Signal Might Be Flashing Again

New CryptoQuant data suggests some worrying parallels with past cycle tops. $BTC holders are reportedly slipping into losses for the first time since October 2023, and the structure is starting to resemble the 2021–2022 transition.

📉 What the numbers show:

• Since December, investors have realized about 69K BTC in losses — roughly $6.1B

• Realized profits peaked in Jan 2024, made lower highs into December, faded through 2025, and have now flipped negative

• Net realized profits have fallen to 2.5M BTC, the weakest level since March 2024 — a zone similar to early 2022, when the bear market was already forming

Back then, the pattern was the same: profits topped out, momentum weakened, and losses followed soon after.

Markets don’t repeat perfectly… but they do rhyme. 👀📊