Bitcoin absorbed a notable supply shock without losing momentum. 📈 ⛏️ On July 20, Miner Netflow surged to 7.01 while Binance Netflow recorded a -$9,030 BTC outflow, yet $BTC continued climbing from $62.3K to $66.1K, peaking near $66.5K. Meanwhile, Binance funding stayed flat (~0.01) and the Coinbase Premium remained slightly negative, suggesting the move wasn't driven by aggressive leverage or strong US spot demand. A one-day supply spike that fails to push price lower often points to resilient underlying demand—but one event alone isn't enough to confirm a trend. Worth watching whether future miner flow spikes are absorbed the same way as $BTC tests higher levels. #Bitcoin #BTC #Crypto #OnChain #CryptoQuant