#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 $68k for stronger bullish confirmation ✅
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$BTC ‌