Bitcoin is struggling to find support after losing the $85,000 level and plunging to $81,000, marking its weakest point since early spring. Bulls have clearly lost control of the trend, and fear now dominates the market, with sentiment rapidly shifting from caution to outright panic. Many traders are calling for a confirmed bear market, while others argue the move is an orchestrated shakeout designed to flush out weak hands before the next macro leg.
Amid the chaos, top analyst Axel Adler shared new insights that highlight a structural shift beneath the surface. Until just yesterday, short-term holders (STHs) appeared relatively stable despite the correction. However, the situation has now changed dramatically. The Realized P/L component — which measures whether investors are selling at a profit
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