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Bitcoin at a Historic Inflection Point
Returning to the realized price zone, the same level that witnessed the COVID crash bottom and the 2022 bottom
Every time Bitcoin reached this zone, it didn't stay there long
The on-chain picture is clear: profits are being compressed, losses are rising, classic behavior of a late bear market phase
This is what real exhaustion looks like: when sellers are done, when interest fades, when most people have left the market
$BTC $XAUUSD
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