Despite the recent rebound of Bitcoin, realized losses still dominate.
From the average situation of weekly realized profits and losses:
Realized profits reached 312 million dollars; realized losses reached 511 million dollars. Although the market has warmed, some investors still choose to cut losses and exit.
Historically, this type of capitulation selling phase often marks the end of an adjustment cycle.
However, attention should still be paid to the intensity of this round of capitulation: its level is close to the previous bear market period, which may signify that the market has completed a more thorough "cleaning," creating conditions to restart the market on a healthier basis.