🚨 Long-Term Bitcoin Holders Still Showing Strong Conviction

LTH (Long-Term Holder) Relative Unrealized Loss peaked at only 15% in early April — significantly lower than the 75%+ levels seen during previous deep bear market bottoms.

📊 What This Suggests:

• Long-term holders experienced far less stress compared to past cycles

• Conviction remains relatively strong despite recent volatility

• Current drawdown has not triggered widespread capitulation

🔍 Historical Context:

During previous bear market lows, unrealized losses among long-term holders reached extreme levels, often signaling maximum fear and exhaustion.

This cycle appears different so far.

💡 The data suggests that while the market has faced pressure, investor confidence at the higher timeframe level remains much stronger than in past major corrections.

⚠️ That doesn’t guarantee upside immediately, but it does show that long-term sentiment has not fully broken.

💬 What’s your view?

Strong hands holding… or delayed capitulation?
@Gate_Square