Feb 25, 18:00 UTC — this pattern repeated.
Smoothed Net Realized P&L exceeded $5M/hr. Price peaked at $69.4k and stalled.
Profit-taking continues to absorb momentum at the $70k threshold, consistent with a thin liquidity regime where even modest realization events are sufficient to suppress recovery attempts.
📉http://glassno.de/4kHB925
Post #1565
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Glassnode Since early February, every attempt to reclaim $70k has met demand exhaustion, with even >$5M/hour in net realized profit triggering rejection. Contrast that with Q3 2025’s euphoric phase, when profit realization surged to $200–350M/hour. Ongoing regime of…
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