The panic index hits 5, the whole network is crying and shouting, but 90% of people don't even understand where their own cost is! Directly on-chain hardcore data. Overall average holding cost: 54785 Long-term holder cost: 41000 Short-term chasing high cost: 89000
Understand this sentence: The current price is still above the overall market cost! It hasn't even reached the real bottom of hell.
The two historical bear markets are exactly the same: 2022 lowest 15,000 ↔ average cost 20,000 → ≈ 75% 2019 lowest 3,100 ↔ average cost 4,600 → ≈ 67% Extreme bottom = average cost × around 70%

BTC end of month bottom buying coordinate map