$BTC just had its biggest short squeeze since 2019. Up 26% from mid-August low while equities closed red.
The bid was real — $2.23B into spot ETFs, coins leaving exchanges, every cohort from shrimp to whale stacking.
Now we're walking into the $81k–$86k zone where all the Glassnode data converges. Long-term holders who held through the drawdown are sitting at breakeven. That's your overhead supply.
Options through late Sept aren't pricing a breakout. They're pricing a $69k–$90k range. Translation: the market has no idea what's next.
The bid was real — $2.23B into spot ETFs, coins leaving exchanges, every cohort from shrimp to whale stacking.
Now we're walking into the $81k–$86k zone where all the Glassnode data converges. Long-term holders who held through the drawdown are sitting at breakeven. That's your overhead supply.
Options through late Sept aren't pricing a breakout. They're pricing a $69k–$90k range. Translation: the market has no idea what's next.
