📉 bitcoin:native’s on-chain Realized Profit/Loss Ratio has dropped to -0.35, its lowest level in 43 months. The last time this metric reached a similar extreme was during the FTX collapse in December 2022, when BTC briefly traded below $16K. Historically, extreme realized losses don’t confirm a Bitcoin market bottom. However they have often appeared during periods of capitulation and seller exhaustion.(BloFin Research)