Bitwise CIO Matt Hougan just warned the crypto market could drift in the 'wilderness' for a while — and the on-chain split explains why. Whales bought ~47,000 $BTC in the slide, but short-term holders sold ~84,000 BTC at a loss on 14 of the last 16 days (avg cost ~$80,300). $BTC ~$64,600 after tagging $62,006, its lowest since July. Next supports: $59,800, then the 2026 low $57,700. Fear & Greed 10. Spot holders — is $57K the line, or does the wilderness last longer? Not financial advice. DYOR. #Bitcoin #Crypto