#SummerCreationCamp

🚨🚨🚨 Market Update 📊

Bitcoin is currently consolidating around $64,000

Derivatives & Leverage

Funding rate remains mild (around 0.003–0.004%), well below previous heated levels. Leverage pressure has clearly cooled

Open Interest is holding near $48B, showing stability without aggressive new positioning from either side

On-Chain Flows

Recent exchange netflows have been modestly negative, pointing to reduced immediate selling pressure on spot markets. The market is seeing more of a liquidity adjustment than heavy distribution

STH vs LTH Cost Basis

Short-Term Holder (STH) realized price sits around $68,000

Long-Term Holder (LTH) realized price is near $50,000

Price trading near or below the STH cost basis is a classic sign of capitulation. Many on-chain analysts see this as part of the final phase of the current cycle

Supply in Loss & Absorption

A significant portion of Bitcoin supply remains in loss, creating oversold conditions. Despite earlier periods of miner stress and some long-term holder movement, the market has continued absorbing supply without breaking key supports

Leverage has de-risked nicely, on-chain metrics are showing accumulation-style behavior, and we appear to be in the later stages of this consolidation phase

The base case for many analysts remains that we are approaching the end of the bear market

What to watch: Sustained exchange outflows + price reclaiming the STH cost basis around $68k for stronger bullish confirmation ✅

✅️ FOLLOW FOR MORE ✅️

$BTC ‌