Bitcoin’s oldest holders have reduced their 90-day average spending to approximately 962 BTC, the lowest level in 19 months.
That removes supply, but it does not create demand.
1. THE ON-CHAIN CONFLICT 📊
• Old-coin spending is collapsing
• Long-term selling pressure is fading
• Spot and ETF demand remain weak
• Final capitulation signals remain incomplete
The metric also measures old coins moving, not necessarily being sold on exchanges.
2. THE PRICE MAP 🎯
BTC remains below EMA20, EMA50, and EMA200, with bearish structure still active.
• $59,080: Immediate bottom test
• $53,600: Estimated realized-price floor
• $64,900: First recovery reclaim
• $71,100 to $76,400: Major resistance and cost-basis zone
3. MY VERDICT
A bottoming process may begin before September, especially if $59,080 holds and BTC reclaims $64,900.
But if $59,080 fails, the realized-price region near $53,600 remains the stronger candidate for final capitulation.
OGs have stopped supplying the market. Now bulls must prove that demand exists.
Does Bitcoin bottom above $59K, or does the market still need one final washout?
That removes supply, but it does not create demand.
1. THE ON-CHAIN CONFLICT 📊
• Old-coin spending is collapsing
• Long-term selling pressure is fading
• Spot and ETF demand remain weak
• Final capitulation signals remain incomplete
The metric also measures old coins moving, not necessarily being sold on exchanges.
2. THE PRICE MAP 🎯
BTC remains below EMA20, EMA50, and EMA200, with bearish structure still active.
• $59,080: Immediate bottom test
• $53,600: Estimated realized-price floor
• $64,900: First recovery reclaim
• $71,100 to $76,400: Major resistance and cost-basis zone
3. MY VERDICT
A bottoming process may begin before September, especially if $59,080 holds and BTC reclaims $64,900.
But if $59,080 fails, the realized-price region near $53,600 remains the stronger candidate for final capitulation.
OGs have stopped supplying the market. Now bulls must prove that demand exists.
Does Bitcoin bottom above $59K, or does the market still need one final washout?
This is personal market analysis, not financial advice. Always conduct your own research and manage risk.
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Join the free Telegram channel
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💎 Telegram Channel: t.me/MonoCoin_Public
🔔 Bot: t.me/MonoCoinSignal_Bot?start=starter_tv
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⭐️ 5-Star TrustPilot: trustpilot.com/review/monocoin.net
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.