1.59 million BTC.
That's the floor sitting between $83,300 and $84,600, per Glassnode's URPD data that Ali Martinez flagged today. Every dip since late September has landed on that band and bounced. When price holds above 1.59 million coins' cost basis, most holders are in profit and in no rush to sell.
Above $86,700 the picture flips. There is almost no dense supply concentration until around $105k. The coins just aren't there. Underwater sellers from the ATH flush have mostly capitulated, and what remains up there is thin.
Daan Crypto Trades put the structure in market terms: $85k gets tested almost daily, reacting as support and resistance in turn, marginally lower highs stacking at $87k, liquidity pooling at $83k. He says he's expecting a squeeze.
I'm with him. This isn't indecision, it's coiling. A market resting on 1.59M BTC of real cost basis with an air pocket overhead doesn't need much conviction to move. A clean break of $86,700 on real spot volume has very little overhead supply to chew through before six figures is back in conversation. Conditional, not guaranteed, but the chain doesn't lie about where the coins sit.
$BTC
That's the floor sitting between $83,300 and $84,600, per Glassnode's URPD data that Ali Martinez flagged today. Every dip since late September has landed on that band and bounced. When price holds above 1.59 million coins' cost basis, most holders are in profit and in no rush to sell.
Above $86,700 the picture flips. There is almost no dense supply concentration until around $105k. The coins just aren't there. Underwater sellers from the ATH flush have mostly capitulated, and what remains up there is thin.
Daan Crypto Trades put the structure in market terms: $85k gets tested almost daily, reacting as support and resistance in turn, marginally lower highs stacking at $87k, liquidity pooling at $83k. He says he's expecting a squeeze.
I'm with him. This isn't indecision, it's coiling. A market resting on 1.59M BTC of real cost basis with an air pocket overhead doesn't need much conviction to move. A clean break of $86,700 on real spot volume has very little overhead supply to chew through before six figures is back in conversation. Conditional, not guaranteed, but the chain doesn't lie about where the coins sit.
$BTC
