VanEck: Bitcoin’s Summer Lull Masks a Tightening Supply Base
Bitcoin Magazine VanEck: Bitcoin’s Summer Lull Masks a Tightening Supply Base VanEck says Bitcoin's quiet summer trading masks a tightening supply base, with cautious derivatives and weak miner economics weighing on the near term even as long-term holders continue accumulating. This post VanEck: Bi
Source: Bitcoin Magazine
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DW NOTE
Bitcoin closed at $63,742 on July 12, down 33% from its six-month high and 14% below its 200-day moving average. VanEck reads this as consolidation, not recovery — derivatives signal fear, miner economics are near multi-year lows, and spot volume fell 29% below post-2019 norms. Long-term holders are accumulating while everyone else waits. That pattern has preceded both breakouts and deeper drawdowns; the difference is usually what breaks first outside crypto.