 Solution

Thermally activated moment reversal, or Néel relaxation, often has an activated timescaleLowering temperature increases ${\tau }_N$. When it becomes comparable to the observation time $t_m$, the ensemble crosses an operational magnetic blocking temperature,Above this blocking crossover, an equilibrated ensemble remains reversible; its low-field susceptibility can increase as temperature falls. Below it, moments cannot fully relax during the field sweep, so magnetic coercivity and remanence can emerge and the loop opens. A distribution of particle volumes/anisotropies broadens the crossover.

This is a timescale-dependent blocking effect, not necessarily a thermodynamic phase transition. Rotation of whole particles in a fluid can supply an additional relaxation channel, and the particle orientation distribution affects the observed loop. Compare sweep rates and temperatures before interpreting one curve as an intrinsic static material law.