Bitcoin’s On-Chain Profitability Flips as Holder Pressure Builds

An analysis shared by Crypto Patel points to a meaningful shift in Bitcoin’s on-chain condition, with net realized profitability turning negative for the first time since 2023. The change reflects how recently moved coins are settling relative to their acquisition prices, offering a window into holder behavior as market conditions tighten. source: https://www.ethnews.com/bitcoins-on-chain-profitability-flips-as-holder-pressure-builds/