$BTC is grinding near $75.8k as macro crosswinds gather. Arthur Hayes is flagging short-term pressure, noting competing capital draws from private tech raises even as baseline dollar liquidity edges upward.
On-chain data reveals a massive overhead supply wall: long-term holders still sit on 4 million Bitcoin accumulated between $85k and $118k. Conviction is holding, but macro patience is required.
On-chain data reveals a massive overhead supply wall: long-term holders still sit on 4 million Bitcoin accumulated between $85k and $118k. Conviction is holding, but macro patience is required.