Sustained exchange inflows test Bitcoin at realized value amid elevated energy costs.

The Lead

Bitcoin price hovers near realized value amid sustained exchange inflows that expand supply precisely when holders lack incentive to sell aggressively. High energy prices from the Hormuz disruption lift gold and the dollar without triggering fresh Bitcoin demand, while network metrics show only baseline miner commitment rather than expansion. The ignored contradiction sits in the gap between contained volatility and distribution pressure that has not yet forced capitulation. Does sustained net inflow to exchanges at these valuations mark the floor or the start of a deeper unwind?

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The Wire

BITCOIN
Bitcoin has reached a deep bear-market valuation zone. The hard part may come next. — CoinDesk

BITCOIN
Bitcoin miner margins fall to record low: Will BTC’s $60K floor hold? — Cointelegraph

ECONOMY
Live updates: Soft core inflation gave crypto a bounce, but only bitcoin held up on the week — CoinDesk

ECONOMY
Bitcoin bulls are still around. These charts show they just moved on to hotter markets. — MarketWatch

CONFLICT
US and Iran exchange strikes across Middle East for second day in a row — BBC World

CONFLICT
Oil jumps as U.S. strikes in Iran raise worries of extended disruption to energy flows — CNBC

Sources (15)

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