$BTC Every bear market cycle falls below the realized value of long-term holders (red line). By 2026, it should be within 50,000.

My approach is to go cash when the price is below the realized value of short-term holders (blue line), and to bottom-fish for about a month when it drops below the realized value of long-term holders (red line).

If the price doesn't rise above the realized value of short-term holders, I won't open any contract positions.

At the same time, the dollar-cost averaging position will not stop.