Why has $BTC been dropping so hard recently?
Multiple key cohorts are distributing at the same time:
- 10–100 BTC wallets
- 100–1,000 BTC wallets
- 10,000 BTC humpback whales
When these structurally important holders shift from accumulation to distribution together, it creates real supply pressure the spot market struggles to absorb
The drop toward the $60K region reflects clear supply dominance
