The most counterintuitive scene in a dead market: $BTC pinned at 64,700, FG 25 in extreme fear, breadth up 4 and down 10—looks scary on the surface, but the real danger isn’t in the price.

News signals: Bitcoin treasury trading is “breaking,” and fund holdings directly fell by 10%—one of the biggest buyers of the past, the treasury of listed companies, is retreating.

A blunt take: the 2024–25 pump relied on a “dual-engine” of ETF + treasury. Now the treasury side has first cracked—only sporadic ETF buyers are left to pick up the slack. One pulls out, one takes over—how do you plug the gap? Going up is harder than you think.

Are you in on this or not? A: If you trust the treasury, belief can still come back. B: If you think it’s harder because one major buyer is gone. C: Wait for the ETF to prop it up through the night—comment with letters, and share it with brothers who are still waiting for a reversal and trying to benefit from it.

Crypto assets are high-risk. This article does not constitute investment advice; it is purely the author’s personal opinion.

— On-chain old Chinese medicine doctor · Feel the pulse every hour · 2026080702

$BTC #BinanceSquare#èĄŒæƒ…é€Ÿé€’ #BTC market trend