Cannot be more proud of the research our team puts out. Our onchain reports have been consistently flagging the weak structure. This week we wrote: During this period, LTH supply declined from 15.95M BTC to 15.05M BTC, reflecting a net decline of ~900K BTC. This contraction shows that selling activity has outpaced new coin maturation, signalling that OG investors are still realizing profits rather than rebuilding positions. The magnitude of this sell pressure is comparable to that of previous distribution waves observed in December 2023–April 2024 and October 2024–March 2025. Notably, this downtrend has yet to stabilize, suggesting that selling momentum may persist in the short term. A healthier structure would require LTH supply to flatten, marking a balance phase for consolidation. Until then, downward pressure is likely to suppress any sustained uptrend. https://bitcoinintelligence.substack.com/p/holding-here-or-game-is-over(Sina 🗝️⚡ 21st Capital)