Bitcoin holds $85K despite miner stress – Is ‘buy the fear’ back?
Despite ongoing market stress and miner capitulation, with reserves declining by 900 BTC ($76 million) in two days, Bitcoin has shown resilience by holding above the $85,000 level. On-chain metrics indicate continued fear and uncertainty, yet new whale activity is playing a crucial role in market dynamics. Nearly 50% of Bitcoin’s realized cap is now driven by recent whale purchases, suggesting a supply rotation from weak to strong hands. This accumulation by large holders, amid a risk-off macroeconomic environment, may be reinforcing a potential bottom. The ability of BTC to maintain four weekly closes above $85,000 supports the possibility that a "buy the fear" opportunity is emerging.
ambcrypto12/21 11:02
