Data: Bitcoin's realized profit and loss ratio has dropped to approximately 1.5, and if it falls below 1, it could trigger capitulation selling.

Mars Finance reports that according to Glassnode, the Bitcoin Realized Profit and Loss Ratio (90-day simple moving average) has been on a continuous decline (currently around 1.5), gradually approaching 1, reflecting increasingly exhausted market liquidity conditions. Historically, if this indicator continues to fall below 1, it is usually accompanied by widespread capitulation selling—that is, the total realized losses in the market will exceed the profits taken.

BTC-2,33%
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