CryptoQuant Research Director Julio Moreno stated on platform X that the current Bitcoin price pullback has led to a significant decrease in the unrealized profit margins of on-chain traders, after Bitcoin previously broke through 100,000 USD. Analysis shows that this pullback is a normal phenomenon following a significant increase, aiding in the healthy development of the market. Currently, the realized price for traders (which typically forms price support during a bull market) is around 88,000 USD, while the current price of Bitcoin is approximately 93,000 USD.