Julio Moreno: No capitulatory selling detected in bitcoin on-chain data, but the market faces a potential correction or decline

CryptoQuant analyst Julio Moreno stated that on-chain data for Bitcoin has not yet shown signs of capitulation-style selling. Over the past year, Bitcoin holders have realized losses of approximately 136,000 Bitcoin, while in historical cycles, annual realized losses at price bottoms typically reach between 1.3 million and 3.7 million Bitcoin. The market is in a moderate pullback phase and may face further downside.