-22% in BTC is not noise.
BTC is flowing onto exchanges: +114K.
Stablecoins are leaving: -105M.
Supply up, demand down. This is structural.
โ๏ธ Morning Brief #190 ๐
https://t.co/1088eJ314q
Exchange reserves are rising again!
The monthly change has turned positive, which signals inflows into exchanges.
In other words, investors are becoming more comfortable sending BTC to exchanges, whether to sell, add stop losses, or simply out of fear.
Charts: @Alphractal
This is a super rare environment for Bitcoin.
Bitcoin currently has a -45% correlation with the Nasdaq-100, measured using the 52-week (1Y) correlation coefficient between bitcoin:native and $QQQ.
The last time it was this low?
October 2018.
Bitcoin hit $82K three times.
Three times it got rejected.
Same pattern every time:
STH SOPR touches 1.0
then rolls over
and price fades.
Short-term holders are selling into every rally.
This is not just technical resistance.
It is behavioral supply.
What breaks the trap -> Morning Brief #170
https://t.co/L1SppD3fbG
$mstr has bought 70% of ytd net inflows and $strc has done all their buying the first 15 days of the month which has been when btc has rallied. We are now in the second half of the monthโฆ..
Bitcoin tradersโ unrealized profit margins hit 17.7%, the highest since June 2025.
The last time margins reached these levels while Bitcoin tested the 200-day MA was March 2022, just before the downtrend resumed.
HUGE LIQUIDITY
$BTC HIGH TIME FRAME SETUP IS CLEAR. YOU SHOULD BE BULLISH LONG TERM LIKE SAYLOR AND BLACKROCK.
ON LTF... ALL IT TAKES IS ANOTHER GLITCH FOR A BLOODBATH (10/10)๐คฃ
What do you guys think? Will there be a bloodbath? Some kind of stablecoin depeg?