The price of Bitcoin has been below $70,000 for quite some time. Multiple attempts to break through have failed, and the upward momentum has not been maintained.

But in fact, most retail investors have not yet participated in the current Bitcoin market cycle and are afraid of the current market situation.

The realized profit level of short-term holders measured by SOPR has not yet exceeded the historical peak level seen at the top of the early cycle

The current market structure is mainly dominated by long-term holders, and the relative scarcity of short-term holders makes it less likely to immediately turn into a bear market

There is still potential for a sharp rise in prices before the top of the cycle is formed

The copycat is bearish, and the mainstream is bullish! Overall, it is still in the mid-term bull market! $BTC

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