Bitcoin is showing another classic local bottom signal! Yesterday, BTC dropped back to around $80,000, and the market once again saw significant realized loss selling pressure. But this Glassnode on-chain data reveals something very interesting. Looking back at the last three times: Early August: A large number of investors sold at a loss, and the price rebounded shortly after. Mid-August: Loss-selling pressure erupted again, followed by a strong BTC rally. Mid-September: The market saw another wave of panic selling at a loss, and the price strengthened again afterward. These three clear instances of panic selling at a loss all happened near local bottoms. And now, the fourth signal has appeared. What’s even more noteworthy: Since the September peak, the scale of profit-taking in the market has been gradually declining. This suggests that the profit-taking pressure, which has been suppressing the price, might be weakening. On one hand, profit-taking is slowing down. On the other hand, panic selling at a loss is reappearing. This kind of token structure is often worth paying close attention to near market turning points. If history repeats itself… Then the sell-off around $80,000 yesterday might not be the start of a new downtrend. Instead, it could be the final shakeout of weak hands before the next leg up. Of course, loss-selling pressure alone doesn’t guarantee a bottom; we still need to see the price stabilize at support and sustained buying interest. But I think the real question worth asking now is: When retail investors are panic-selling at a loss again, and profit-taking is decreasing, who exactly is buying up these Bitcoins? If $80,000 ultimately holds… This pullback might once again turn out to be a buying opportunity that people only realize in hindsight. Always back your analysis with your positions.