According to ChainCatcher, CryptoQuant analyst @AxelAdlerJr noted that Bitcoin's net realized profit and loss has recently dropped by 97%, returning to near zero. The last time this occurred was in June 2022, after which Bitcoin fell from $30,000 to $16,000. @AxelAdlerJr pointed out that whales are still in profit at the current price level (with a 25%-80% buffer), so panic has not yet emerged. However, what is supporting the market is not the presence of buyers, but rather the absence of sellers.
Bitcoin's Net Realized Profit and Loss Drops to Near Zero, Repeating 2022 Warning
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Summary
Bitcoin news reports that Bitcoin analysis shows the net realized profit and loss has dropped 97%, nearly reaching zero. This mirrors a trend from June 2022, when Bitcoin fell from $30,000 to $16,000. Whales remain profitable at current prices, with a 25%-80% buffer, so panic is not yet visible. The market is currently supported more by the lack of sellers than by buyer activity.
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