30-day realized vol is back near 0.83 as price trades around $65k.
- Short-term holder losses: $1.2B/day
- One-day STH exchange inflows: 23k
$BTC at a loss
- Open interest: contracting
- Heavy cost basis: $65k–$70k
- Larger holders: still accumulating
This is not aggressive selling from strength.
It’s weak positioning being forced out as liquidity thins.