Bitcoin took a nice stroll from $20k to $94k in three years, and no one seems to be freaking out about it.

That's because the market is suddenly acting mature, and it's weirding everyone out.

Supply in Loss Got Deleted

Back in early 2022, Bitcoin supply in loss hit a nightmare 21.9% as we crashed below $20k.

Everyone was screaming like they'd just seen their portfolios go to zero—which, let's be honest, some actually did.

Now Bitcoin's chilling at $94k, and supply in loss has dropped under 5%.

That's fewer bagholders underwater, which means that selling pressure has vanished at a surprising rate.

The Profit-Taking Plot Twist

Early 2024, Bitcoin's hanging around $60k, but on-chain profit-taking was non-existent.

Hodlers just sat there, not selling, like they were waiting for something better.

Then Bitcoin rocketed to $87k in late 2024, and everyone suddenly remembered they had sell buttons.

Profit-taking went through the roof – classic crypto, buy high and sell higher.

But when Bitcoin slid back to $77k in early 2025, something weird happened.

The selling just... stopped, almost completely. 

Even people sitting on massive profits looked at that dip and said "nah, I'm good."

Liquidations Are So 2023

The Binance liquidation heatmap looked like a war zone not too long ago, with mid-2024 seeing thick liquidation clusters around $60-70k.

Now, with Bitcoin at $77k, liquidations are nonexistent.

Traders finally realized that going full degen on leverage is financial seppuku.

With fewer panic sellers flooding the market during dips, we're actually seeing stability.

In crypto. Stability. Those two words usually don't go together without "lack of" between them.

What Nobody's Telling You

The same paper hands who dumped at $20k are now buying at $77k.

Just let that sink in.

Hodlers, who watched their portfolios implode in 2022, are now the ones laughing.

Bitcoin's investor mindset flipped from "oh my god sell" to "over my dead body" as even 20% corrections barely register a tweetstorm anymore.

The 2025 Landscape Looks… Promising

The market is growing up—it's acting more like a real asset and less like a Solana NFT pump.

Institutional money is pouring in, and they're not here for quick flips.

Bitcoin whales barely even bother checking the price anymore – they're just accumulating through every dip.

Market manipulators are finding it harder to shake out holders who've seen Bitcoin "die" more times than we can count.

The floor keeps rising because fewer people are willing to part with their corn at any price.

So yeah, 2025 is looking different. Not "this time is different" hopium different, but structurally, fundamentally different.

For those playing the long game, Bitcoin's finally starting to look like the thing maximalists have been screaming about for years.