
Whale Factor|May 12, 2026 15:36
🐋 WHALE WATCH: Glassnode says Bitcoin long-term holder unrealized losses hit 15% in April.
Compare that to deep bear markets where those losses usually spike above 75%. We are nowhere near the bottom of a typical cycle reset yet.
The current structure looks more like a mid cycle correction than a total collapse.
Is this the new floor or do we need a deeper flush ?(Whale Factor)
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