📊 #BTC is closer to its "buy zone" than it has been in the past three years. However, it is still trading at approximately 21% above its realized price, indicating that most holders remain in profit and that on-chain data has not yet signaled a classic long-term accumulation zone.


The gap between spot and realized price has narrowed: from around 120% at the end of 2024 to 21% now.
On-chain data does not show capitulation or a large institutional demand spike, suggesting a need for a deeper decline to the realized price of approximately $54,000 to reflect previous cycle lows. coindesk
BTC3,05%
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