Bitcoin’s 1w-1m Realized Cap HODL Wave is sitting at 6.81%.
2019 bottom: 3.66%.
2022 FTX corpse pit: 3.47%.
We’re not at maximum despair, but we are absolutely in the “tourists left, psychopaths remain” zone.
The casino is empty, the supply is aging, and the fiat middle class is still waiting for CNBC to tell them it’s safe at $250k.
Buying $BTC here.