Cryptocurrency market trends indicate a sideways movement since the $73k all-time-high in March. Analysis of short-term investors' cost-basis reveals a negative demand momentum since early May. Long-term holders' unrealized profit is far from historical peaks, suggesting a cautious market sentiment. Despite long-term holders accounting for only 4%-8% of total volume, their realized profits typically represent 30%-40% of cumulative profits in bull markets. This highlights the significant role of long-term investors in the cryptocurrency market. The market's current state suggests a potential risk of deeper correction and longer recovery time if the current structure persists. 📉📊