Bitcoin has faced significant challenges, dropping over 18% in the last six trading days from $70,100 to $58,000. Despite this decline, there are reasons for optimism, particularly when examining on-chain support levels.

One key metric is the Realized Prices, which can be segmented into short-term, long-term, and ETF providers. Notably, BlackRock, the largest ETF provider, has acquired over 330k Bitcoin at an average price of $58,755. Historical data shows that BlackRock ETF investors have capitalized on price dips, leading to subsequent price increases.

The critical question now is whether these investors will again buy at their cost basis, potentially establishing a market bottom. All eyes are on the ETF markets tomorrow.