🔄UPDATE: The Realized Profit/Loss Ratio (90D-SMA) is now below 1, underscoring a full transition to a regime of excess loss-realizing. Historically, a break below 1 sustained for more than 6 months before recovering above 1. A sign for a constructive return of liquidity to the market. 📉 http://glassnode.de/4rjg683(glassnode)