The market $BTC is entering a sensitive phase as actual profit and loss flows decline sharply. The rush of profit-taking at the beginning and end of 2024 has created momentum for clear price increases, but the recent rise in actual losses indicates that surrender pressure is quietly forming beneath the surface of the market.
In the short term, such decline phases often occur in the final distribution stage, when the upward momentum begins to slow down and the market becomes more selective with cash flow. This is not necessarily an immediate reversal signal, but it is rarely an easy trading phase.
In the long term, $BTC usually only creates a bottom when losses reach their peak while the larger trend structure remains intact.
If in 2025 the market can absorb this pressure, a new expansion cycle may form. If not, strong volatility and forced liquidity events will occur before a real reversal.
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