Bitcoin is at $81K, down 36% from its $126K all-time high last October. Most recent buyers are underwater.


But the structure is shifting. BTC has reclaimed key on-chain cost basis levels. Funding rates flipped neutral.
ETFs absorbed 19,000 BTC in nine days last month, nine times what miners produced. BlackRock's IBIT sits at $66.9B in AUM.
Prediction markets give a new ATH just 19% odds this year.
Wdyt?
BTC-1.68%
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