Bitcoin just wrapped July with some solid gains but slipped into a quiet dip early August closing under 63000 two days running 🖤. Fresh on-chain signals reveal steady hands scooping up roughly 155000 BTC right in the 62000 to 65000 cost basis pocket during this pullback 🌑. That cluster now stands as the densest supply zone holding about 0.7 percent of all circulating bitcoin.
Buyers Absorb The Dip With Sinister Resolve 🔮
Bitfinex data highlights how this supply band grew even as prices eased lower instead of shrinking from heavy sells 🦇. The pattern points to fresh buyers soaking up pressure while long term holders kept stacking and short term ones trimmed near their entry points 💀.
Spot volumes have cooled to late 2023 levels after bitcoin posted a 7.3 percent July gain that fits seasonal history.
Defensive Shifts And Subtle Market Whispers 🌙
U.S. spot bitcoin ETFs logged a 61.5 million dollar net outflow for the week ending three straight inflow stretches 🕸️. Options traders are paying up for downside hedges while implied volatility hovers near multi year lows. Second quarter GDP rose 1.5 percent with private demand up 3.9 percent fueled by consumer outlays and AI spend. Personal consumption expenditures climbed at a 5.1 percent annualized clip and the 10 year real yield sits at 2.41 percent just nine basis points off a key threshold for zero yield assets 😼.
Just another echo from the void by iconofsin.eth 💖
