🚨Everyone is calling $67K a buying opportunity.
The on-chain data disagrees.
Bitcoin's realized price, the average cost basis of every coin on the network sits at $54,000.
BTC is still 21% above it.
Every major cycle bottom in history formed when spot price touched or broke below realized price.
That hasn't happened.
Not even close.
This doesn't mean price can't bounce from here.
It means the market hasn't felt the kind of pain that historically marks a real floor.
The bottom may still be ahead not behind.