"The bottom is in." Everyone's saying it

The-bottom-is-in-Everyones-saying-it

Here's what the data actually needs to confirm that.

$BTC at 80.87K. Three cohorts of underwater holders sitting above the price like a ceiling.

- 3m-6m realized price: 88.88K - first line of overhead supply
- 12m-18m realized price: 93.45K - second wall
- 6m-12m realized price: 111.85K - the heaviest band, 29% above spot

Every one of these levels is a break-even exit point for a different wave of trapped buyers.

For the bottom to be confirmed, price needs to clear 88.88K and hold - not wick through, not retest and fail. That puts the most recent cohort back in profit and removes the first layer of sell pressure.

Until then, every rally into 85K-88K is walking straight into distribution from Nov 2025-Feb 2026, buyers desperate to get out flat.

Bottom calls are narratives. 88.88K reclaimed and held is data.

We're not there yet.