A key indicator of market sentiment is the Percentage Realized Cap. Specifically, the supply held by those who bought Bitcoin BTC within the last month. This metric reveals how much of the network's total value is held by short-term interest versus long-term investors. This indicator has fallen below the 7% mark, a historically significant level. When this percentage is this low, it confirms that the market is quiet and retail interest has largely evaporated. In past cycles, this has served as a definitive bottom signal, indicating that selling pressure has been exhausted and the network value is now concentrated in the hands of high-conviction, long-term investors.(Ali Charts)