Bitcoin's price has fallen below $60,000 with institutional capital outflows persisting. On-chain data reveals long-term holders and multiple wallet cohorts are gradually accumulating coins; the number of coins in loss exceeds those in profit, indicating supply is shifting to steadfast holders. The options market shows a defensive posture with rising implied volatility, suggesting an early bottoming phase without confirmation.
Bitcoin's price has dipped below $60,000, accompanied by continued institutional capital outflows. However, on-chain data paints a more nuanced picture: long-term holders and a variety of wallet cohorts are steadily accumulating coins. The number of coins currently in loss surpasses those in profit, signaling that supply is transitioning to committed holders. Meanwhile, the options market remains defensive, with implied volatility ticking up. Overall, Bitcoin appears to be in the early stages of a bottoming process, though a confirmed bottom has yet to be established.
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