This chart is actually telling a very clear story if you know where to look.
The realized price (1–3m coins) rolling over while
$BTC already flushed hard is key here. It shows short term holders have been fully reset meaning weak hands are mostly out.
That $63K–$70K zone?
That’s not random… that’s where aggressive buyers stepped in while sentiment was still negative.
Also notice this:
Price dropped below realized levels → panic phase
Then quickly reclaimed momentum → absorption phase
That’s classic bottoming behavior.
Now with BTC already +20% off the lows, the market is shifting from:
fear →