During the first sharp leg down in NOV 2025, the market absorbed heavy sell pressure aggressively, similar to the post-LUNA & FTX crash responses.
The recent drop to $60k did see some accumulation, but it was notably weaker than the NOV 2025 bounce or the reflexive demand seen after the LUNA collapse.
The recent drop to $60k did see some accumulation, but it was notably weaker than the NOV 2025 bounce or the reflexive demand seen after the LUNA collapse.
The recent drop to $60k imposed drastic psychological pressure on “diamond hands,” comparable to the May 2022 LUNA crash.
In both cases, the 7D EMA of Long-Term Holder SOPR fell below 1 after trading for 1-2 years above it.
Simply put, long-term holders realized significant losses—a rare shift in conviction typically seen in deeper stages of bear markets.
In both cases, the 7D EMA of Long-Term Holder SOPR fell below 1 after trading for 1-2 years above it.
Simply put, long-term holders realized significant losses—a rare shift in conviction typically seen in deeper stages of bear markets.
Please open Telegram to view this post
VIEW IN TELEGRAM
Please open Telegram to view this post
VIEW IN TELEGRAM
Please open Telegram to view this post
VIEW IN TELEGRAM
Please open Telegram to view this post
VIEW IN TELEGRAM
For at least the last 12 months, changes in the price of Bitcoin have been tightly correlated to U.S. software stocks with relatively high enterprise values (EV) compared to sales.
This suggests that the drawdown likely had more to do with broad de-risking of growth-oriented portfolios rather than problems unique to crypto
This suggests that the drawdown likely had more to do with broad de-risking of growth-oriented portfolios rather than problems unique to crypto
• TMTG $108,629
• Metaplanet $106,770
• Strategy $76,062
• Binance SAFU $69,160
• Tether $38,930
• Tesla $32,610
• Block, Inc. $28,813
Please open Telegram to view this post
VIEW IN TELEGRAM
Please open Telegram to view this post
VIEW IN TELEGRAM
Please open Telegram to view this post
VIEW IN TELEGRAM
Please open Telegram to view this post
VIEW IN TELEGRAM
Deposits of PayPal's PYUSD on #AAVE increased 40x to reach $400 million in the last quarter of 2025
That's nearly a 20× increase in shareholder participation.
Please open Telegram to view this post
VIEW IN TELEGRAM