$BTC CRASHES TO 59K — EXCHANGE BALANCES HIT 3.5M BTC 🚨
50,000 BTC just moved to exchanges at a loss in 24 hours — that's paper hands capitulating hard. STH market cap dropped to $237.7B, lowest since October 2024. Miner cost sits at $78K while price languishes near $60K, forcing rigs offline.
The accumulation zone between 58-60K looks tempting, but ETF outflows of 71,600 BTC last month and total institutional flow at -77K BTC tell me smart money isn't buying yet. Supply hasn't been absorbed — CEX reserves are still climbing.
With over 50K BTC dumped and no real demand soaking it up, are you waiting for a clear reversal signal or building a position in this range?
Not financial advice. Always manage your risk.
#BTC #SupplyOverhang #OnChain #Bearish #Crypto 💎