$BTC Bitcoin is in a valuation reset phase following the adjustment from ETF outflows. On-chain data shows the market is no longer overvalued, but it is not yet a strong accumulation zone because Short-term Holders are still facing losses and institutional capital has not returned.



Trading implications:
• The safest strategy right now: Stay on the sidelines or only test very small positions.
• Better edge buy zone: 53,000 – 55,500 (near realized price + LTH cost basis).
• Resistance zone to break: 62,000 – 63,000 to confirm a shift to a more positive trend.
BTC-1.13%
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