A hallmark of bull markets is a low Relative Unrealized Loss, typically <5%. This metric tracks the USD loss of all coins currently underwater, normalized by market cap. The current bull market has held this structure since November 2023, making it more persistent than the

The Stablecoin Supply Ratio (SSR) Oscillator continues to sit near cycle lows, indicating ample stablecoin liquidity relative to Bitcoin. Historically, such periods precede stronger bid-side support when market confidence returns. 🔗glassno.de/4osY1n7

Bitcoin’s cost basis distribution shows support near $111K and heavy supply around $117K. This range defines the current battleground between recent buyers and profit-takers. A break in either direction could set the tone for the next major move. 🔗glassno.de/3WXsmOb