$BTC ON-CHAIN SHIFT
📉 60% → ~27%
Bitcoin outputs that were underwater have fallen dramatically—from nearly 60% to around 27%.
That’s a major shift in Bitcoin’s on-chain structure.
But here’s the key point: less BTC in loss does NOT automatically mean fresh demand is entering the market.
📍 Key zones:
• ~$71.3K — Active-supply cost basis
• ~$79.8K — Invested-capital resistance
Bitcoin has absorbed a significant amount of market pain.
Now the question is:
Where does the next wave of demand come from?
🔥 Fresh demand enters → BTC could challenge higher resistance.
⚠️ Demand remains weak → downside pressure could return.
The market absorbed the pain. Now it needs buyers.
$BTC
📉 60% → ~27%
Bitcoin outputs that were underwater have fallen dramatically—from nearly 60% to around 27%.
That’s a major shift in Bitcoin’s on-chain structure.
But here’s the key point: less BTC in loss does NOT automatically mean fresh demand is entering the market.
📍 Key zones:
• ~$71.3K — Active-supply cost basis
• ~$79.8K — Invested-capital resistance
Bitcoin has absorbed a significant amount of market pain.
Now the question is:
Where does the next wave of demand come from?
🔥 Fresh demand enters → BTC could challenge higher resistance.
⚠️ Demand remains weak → downside pressure could return.
The market absorbed the pain. Now it needs buyers.
$BTC
