A few months ago, they were sitting on substantial profits. Now this cohort is in one of the deepest loss zones of 2025, with the average recent buyer underwater as the price trades below their realized price.
In the near term, this overload is weighing on the market, as weak hands may still sell during each bounce. However, structurally, these deep loss zones usually appear closer to the later stages of a correction rather than the early stages.
If you are tracking this cohort, is it an area where you reduce risk, or a place where you remain patient and start planning entries?
BTC
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