Realized Loss levels are low, Realized Profit levels are decreasing, and Unrealized Profit/Loss levels are relatively muted for Bitcoin.
I dive deep into what this data is suggesting:
https://open.substack.com/pub/onchaincollege/p/profitloss-levels-shed-insights-about?r=1b0q8k&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true