🚨 BTC AGAINST GOLD AT A HISTORIC LOW. LTH BROKEN. MARKET IN LOSS MODE

Several metrics indicate a deep phase of pressure.

📉 1️⃣ BTC / Gold — historic weakness

The weekly RSI of the BTC to gold pair has dropped to an all-time low.

Lower than:

— FTX collapse

— 2020 crash

— 2018 bear market

This indicates record relative weakness of BTC compared to the safe-haven asset.

2️⃣ Long-term Holders' Level Broken

According to On-Chain College:

BTC has broken the realized price of long-term holders — ~$65.7k

and is now trying to regain this level.

Historically, holding below the LTH level often led to deeper corrections.

In worst-case scenarios, targets shifted to deeper zones (up to $42k).

📊 3️⃣ Market in Loss Realization Mode

According to Glassnode:

The realized profit/loss ratio (90D-SMA) has fallen below 1.

This means:

participants are realizing more losses than gains.

Historically, such periods lasted 6+ months before the market returned to sustainable growth.

🌊 4️⃣ Outflow of Participants

Asset holders have been leaving the network for two consecutive months.

Their positions are in loss.

No new buyers are currently entering.

This is a classic phase:

capitulation → decreased activity → liquidity squeeze.

Market Balance

🔴 Record Weakness Against Gold

🔴 Price below LTH cost basis

🔴 Loss realization dominates

🔴 Network losing participants

But:

Extreme values have historically formed near major lows,

provided liquidity returns afterward.

The market is in a deep phase of structural pressure.

Until BTC recovers the LTH level and capital inflow resumes,

the extended correction scenario remains relevant.

The reversal will not start with a pump,

but with the return of profits to the network and stabilization of liquidity metrics.

Metrics in the comments ⤵️

Watch for liquidity return on the TOTAL, TOTAL2, and TOTAL3 charts
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