BITCOIN JUST FLIPPED A KEY ONCHAIN SIGNAL
For the first time this cycle, more $BTC supply is sitting at a loss than in profit. That crossover has only shown up before at points of peak fear and capitulation.
$BTC BTC is down 44 percent from its January peak near 109000 USDT, and roughly 51 percent below the October 2025 all time high of 126080 USDT. It briefly broke below 58000 USDT on July 1 before ripping back above 61000 USDT by July 3.
Here is the twist: long term holders are not selling into this. Onchain data shows accumulation picking up and whale wallets building size into the weakness, the same cohort that has historically timed bottoms better than $ETH inflows ever did.
Rate cut odds are also shifting. A weak June jobs print has traders pricing the first Fed cut for October instead of earlier, which usually favors risk assets once priced in.
Zwak take: loss supply crossovers are not comfortable to trade, but they are exactly the zone where strong hands take coins from weak hands. Watch 58000 as the line in the sand. Lose it and this stays a falling knife. Hold it and this is where the next leg starts.
#Bitcoin #BTC #CryptoMarket #OnchainData #Write2Earn
