$600 billion unrealized losses behind: It's not a crash, but a "wealth reshuffle"

Seeing $600 billion in unrealized losses, many people's first reaction is:
"Done, another three years of bear market."
But seasoned players just smile:
They've seen this story before.
The essence of the market isn't about ups and downs, but—
👉 Who holds the chips, and who they flow to
What's happening now?
✔ Retail investors' losses are widening, emotions collapsing
✔ ETF funds are floating losses, facing short-term pressure
✔ Continuous selling pressure on exchanges
Sounds grim, right?
But this is exactly the "standard setup for a bottom."
You can think of this as a "casino clearing out":
Those who can't afford to lose are leaving,
Those who can stay are quietly adding more.
Glassnode says "turnover," which in plain language means:
👉 The market is clearing out the indecisive players
So why hasn't it gone up yet?
Because—demand hasn't returned.
What does the current market look like?
Like someone who just went through a breakup:
👉 Not ready to start a new relationship yet
So in the short term, the focus isn't on price, but on:
👉 Whether new funds are coming in
👉 Whether the macro environment is warming up
A brutally honest summary:
👉 The bottom isn't brought about by falling, but by "enduring"
Let's get real in the comments:
Your current state is—
A. Already lying flat
B. Testing with small positions
C. Buying more as it drops (the brave) 👇
#今日你看涨还是看跌？