According to CryptoQuant's recent analysis, $BTC might be sliding into early winter territory, even while price action stays relatively stable.
The concern isn't a sudden drop—it's the gradual unwinding of support structures. Supply-demand imbalances, weakening capital inflows, sentiment losing momentum. These don't trigger crashes overnight. They set the stage for prolonged drift. What's worth watching is how long price can hold while the underlying flows tell a different story.
We've seen this before: structural change precedes visible decline. Right now, the data suggests we're somewhere in that gap. Not alarm bells, but yellow flags. The kind you notice before the crowd does.
