Bitcoin's Resilience: Is the Bottom Finally Here? ๐คฏ
Investor patience is wearing thin. Are we looking at a deeper correction, or is a bullish reversal brewing? Uncertainty surrounding Japanese bond yields is fueling risk aversion, and Bitcoinโs on-chain metrics arenโt mirroring the Q2 recovery.
Miner Reserves have dropped by 900 $BTC (approximately $76 million) in just two days, signaling potential capitulation as miners operate at a loss. However, $BTC continues to defend the $85k level โ a surprising show of strength.
Interestingly, nearly 50% of Bitcoinโs realized cap now originates from new whale buyers. This shift in supply dynamics, coupled with four consecutive weekly closes above $85k, suggests stronger hands are accumulating. Could this be the โbuy the fearโ setup finally taking hold? ๐ The Bank of Japanโs rate hike is impacting spot demand, but itโs also creating an opportunity for strategic accumulation.
#Bitcoin #Crypto #MarketAnalysis #WhaleActivity ๐
