$BTC Bitcoin’s 90-day net positions just turned deep negative, with drawdowns nearing -1.5M to -2M BTC.

Retail accumulation stalled, and underwater holders de-risked.

Liquidity thinned, limiting upside recovery now depends on fresh demand, improved sentiment, and positive positioning.

Current buyers remain underwater near $69K vs STH realized $92–92.5K.

BTC

66,521.84

-1.75%