Rafael

$BTC long-term holders have already realized more profit this cycle than in all but one prior cycle (2016–17), highlighting elevated sell-side pressure. Taken alongside other signals, this suggests the market has entered a late phase of the cycle.

Tether Gold XAUt will become the biggest tokenized gold market in the world. Gold price is going up, as a consequence of the world trying to hedge Chaos. Central banks are loading up hundreds of billions in gold as part of their reserves. XAUt opens up the digital gold opportunity to the hundreds of millions of people already using USDt. Inevitable.

4/ Long-term view: Zooming out, we see the importance of the $96k–$98k range, confirmed as a dominant zone of investor interest. However, what’s striking is the large gap in accumulated supply below $88k. There’s minimal support in this range, with the next major accumulation zone visible only at $70k an below. This gap could become a key factor in market dynamics, should prices move lower in the future.