Entity-Adjusted STH Net Realized P/L just plunged deep into the red — matching past capitulation clusters near cycle inflection points. This isn’t profit-taking. It’s stress-driven selling. Price is compressing while realized losses expand — a setup that often precedes volatility expansion. If selling exhausts, supply clears fast and reflexive upside can follow. In every cycle, STH panic has fueled the next major move. Is this late-stage capitulation… or the start of a deeper liquidity event?
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$BTC Short-Term Holders Capitulating Again
Entity-Adjusted STH Net Realized P/L just plunged deep into the red — matching past capitulation clusters near cycle inflection points.
This isn’t profit-taking. It’s stress-driven selling.
Price is compressing while realized losses expand — a setup that often precedes volatility expansion. If selling exhausts, supply clears fast and reflexive upside can follow.
In every cycle, STH panic has fueled the next major move.
Is this late-stage capitulation… or the start of a deeper liquidity event?