Bitcoin at $78K but something's VERY wrong beneath the surface...

The Fear & Greed Index shows 44 (neutral) but there's a hidden metric that's screaming DANGER.

Here's what 99% of traders are missing:

Bitcoin's Realized P/L Ratio just hit 0.95

That means more BTC is being sold at a LOSS than at profit right now

Even with price at ~$78K, holders are still capitulating. This is NOT normal during a rally..

Price recovery without profit-taking means weak hands still in control.

Until this ratio moves above 1.0, we're still in RECOVERY MODE - not a confirmed uptrend

Real momentum returns when profits do

Watch this metric closer than price action itself.