Bitcoin closed at $78,982, up ~24% from $63,533 on Aug. 11. Aged supply is rotating: 1–3M coin inflows to exchanges are up 269%, while miner transfers are +280% vs. the annual average. Binance absorbed +6,151 BTC and +6,725 BTC on Aug. 21–22, even as aggregate exchange netflow stayed at −2,494 BTC. Meanwhile, Binance stablecoin netflow averaged −$74.4M, with $286M burned — purchasing liquidity is contracting. The setup favors consolidation over clean continuation. A stronger bullish case needs negative Binance netflow + Coinbase Premium above $0. #Bitcoin #BTC #Crypto #OnChain #CryptoQuant