270,000 BTC accumulated by whales at $59k. largest single accumulation spike ever recorded on chain. bigger than the covid bottom (150k BTC). bigger than the FTX bottom (180k BTC). ETF outflows hit $4.5b in june but that capital rotated to semis, not cash. the entities selling BTC face quarterly redemptions and compliance committees armed with citi's $82k target. the entities buying have no reporting requirements and no redemption pressure. LTH SOPR at 0.615 last printed in july 2023 at $25k-$31k before the run to $73k. forced sellers are finite. voluntary buyers at record size are not.
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HOOT: China is sending two pandas, Ping Ping and Fu Shuang, to Atlanta, a diplomatic signal with major publicity potential. The pair will meet for the first time; NBC has flown a correspondent to Chengdu. Zoo Atlanta will announce an arrival date.