Bitcoin dipped down to that eerie $58,100 mark hitting a 21-month low while Santiment’s on-chain metrics painted a widening split between big players and everyday holders.
Whales Ditching Bags While Retail Grabs The Dip 💀
Wallets carrying 10 to 10,000 BTC cut their stacks by 0.37% since June 15 based on Santiment supply data pointing to ongoing whale exits amid the slide. Smaller bags under 0.01 BTC grew by 0.51% over the stretch showing retail nibbling at the weakness instead.
This kind of split screams retail treating the chaos like a cute chance to accumulate while the larger entities hang back refusing to join the fun for now. Check the vibe here: https://x.com/SantimentData/status/2072009974893424757
Bitcoin might still need extra time before a solid floor forms until those big holders jump back into accumulation mode.
Rare Crossover Flashing Major Bottom Energy 🖤
Ali Martinez spotted Bitcoin in this uncommon on-chain zone that only pops near huge lows. Around 10.45 million BTC sits at a loss against 9.60 million in profit marking the first cycle flip where lost supply beats profitable holdings.
See his take: https://x.com/alicharts/status/2071995175531073853
That shift means over half the circulating supply stays underwater washing out the hype. History shows this pattern just a few times in 15 years like back in 2011 before the next run or in 2018 leading to 2019 gains.
Macro Sparks Required For The Real Turn 🌑
Bitget’s Ryan Lee notes the space craves stronger triggers like fresh inflation reads ETF inflow rebounds or easing tensions. He mentioned how sticky prices could keep the Fed hawkish squeezing risk appetite and liquidity for assets like Bitcoin in the process.
Just another echo from the void by iconofsin.eth 💖
