#Bitcoin lost $70K but context matters

$BTC breaking below the $70,000

psychological level has clearly shifted sentiment. We're now hovering in the mid-$60Ks, and the structure shows lower highs + failed reclaim attempts short-term momentum favors bears.

But here's the deeper signal: On-chain data shows ~$2B+ in realized losses (7D MA) - levels comparable to the 2022 Luna crash.

Sounds scary... except back then $BTC was at

$19K. Today, it's happening near $67K.

That's not systemic collapse. That's likely late-cycle buyers + leverage getting flushed.

Realized losses suggest capitulation.

Price context suggests cyclical reset, not

structural failure.

Key zone now: $60K-$62K.

Hold it → consolidation + potential base.

Lose it → deeper retrace in play.

Markets punish excess before they reward patience. The next move depends on demand strength here.