There’s a lot of talk about Bitcoin holders capitulating into this drop, selling at a loss. Our realized profit and loss data shows something closer to the opposite. 📊 In the week of Oct 2 to 8, holders realized over $3.3B more in profit than in losses. 🧭 That’s in line with recent profit-taking weeks: ~$3.4B in late September and ~$3B in late August. 📉 For contrast, the week of Aug 14 to 20 shows what a net-loss week looks like here: about $1B net realized loss, with 6 of 7 days in the red. 🔀 This week, not a single day closed with a net realized loss. There’s one thing this can’t show. It’s the whole network, so recent buyers could still have sold at a loss underneath older coins taking profit, and we can’t separate that group here. In dollar terms, this drop looked a lot more like profit-taking than capitulation. Explore BTC network realized profit and loss in Sanbase: https://app.santiment.net/charts/btc-nrpl-32210?utm_source=x&utm_medium=post&utm_campaign=btcrealizedpnl_1026&aff=33