❗️After BTC fell below $90,000, profitability indicators went into negative territory, signaling the asset's entry into an "early bear market" - CryptoQuant.
🧐 Annual net realized profits sharply decreased - from 4.4 million BTC to the current 2.5 million BTC. Such levels were last observed in March 2022.
👉 Net realized losses follow the same pattern, signaling a weakening of Bitcoin's price strength.
