📊 BTC around 70Kx: The unrealized losses of the entire #Bitcoin market currently amount to approximately 16% of the total market Capital . 🔍 Things to note: ✔️ The current "market pain" structure is very similar to the period in early May 2022 according to Glassnode. ⌛ At that time, the market also: • High psychological pressure • Holder are taking losses but haven't surrendered en masse. • High volatility, liquidation constantly being swept away. 💡 Stages like these are usually when: Retail is fearful. Smart money starts observing/accumulating gradually. Note: ✔️ The situation being similar to 2022 does not mean a deep crash scenario will repeat itself (on-chain data is just for reference; what seems clear is not necessarily true). ⚠️ But it shows that this is a psychologically sensitive area, prone to: • Strong two-way shake ❌ Especially: - Breaks support BUT doesn't actually drop. - Prices rebounded but it was NOT a true reversal. 📈 This is a time to test your beliefs, not a time for FOMO (fear of missing out). ‼️ Therefore, those who look at the long term will see this as a period of opportunity formation, while those who look at the short term will only see risks. Especially during the Bear Market, there were all sorts of FUDs, like quantum computers, who created Bitcoin (then transferring coins, then selling them...).