Bitcoin Cycle Isn’t Over: Realized Price Bands Show Holder Stress Above Key Levels
Bitcoin experienced a sharp decline this week, dropping below $92,500 amid renewed macro uncertainty and risk-off sentiment triggered by potential EU-U.S. trade tensions. Despite the pullback, analyst MorenoDV argues the market is not entering a cycle end but a phase of “risk redistribution.” Analysis of Realized Price by UTXO age bands shows newer short-term holders (1w–1m and 1m–3m cohorts) remain in profit, providing market stability. However, mid-term holders (3m–6m and 6m–12m cohorts) are underwater, with realized prices above spot, indicating concentrated stress but not yet capitulation. Sustainability hinges on mid-term holders viewing the drawdown as temporary rather than structural to avoid accelerated selling.
bitcoinist01/20 07:02
