Bitcoin Vector: This summer provided the answer:
On-chain activity declines during bear markets.
After prolonged drawdowns and episodes of capitulation, the decline becomes overextended.
Then, shrinking liquidity begins to stabilize, helping BTC consolidate as selling pressure is absorbed.
If you want, I can also make it sound more natural/colloquial, more professional/analytical, or more concise for a chart caption. Just let me know.
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1July 25, 2026 3.4K 2
