Blockchain analysts have developed a new framework to identify points of seller exhaustion during market downturns. The framework uses on-chain metrics to assess both unrealized and realized losses of short-term holders (STH) and long-term holders (LTH). The analysis revealed that losses from LTHs occur mainly during macro cycle downturns, while STHs lock in losses throughout all market phases. The goal is to identify inflection points during corrections and consolidations within a dominant bull trend. The framework uses three profit/loss metrics: MVRV Ratio, SOPR, and Realized Loss. The analysis provides insights into the behavior of different investor groups and helps identify points of micro-capitulation, which tend to accompany local market lows. 📊🔍