Stablecoin exchange netflow turned positive after 113 days of outflows but is already fading. SSR is easing yet still elevated. Neutral.

Bitcoin's Unified Sentiment Index cooled from 88 to 70 but stays in extreme greed - driven by Fear & Greed while votes and $77.6K price lag.

Long-term holder distribution rose to 282K BTC after the short squeeze as LTH MVRV hit 1.60. Can spot demand absorb the new supply?

Bitcoin open interest fell 3.8% while funding rates doubled since Friday - long bias is rising within shrinking OI, raising long-squeeze risk.

Bitcoin's MPI turned positive for the first time since February as miners resume selling, while fee revenue stays below 1% - 377 days now.

Bitcoin's 90-day realized profit/loss ratio crossed above 1 as unrealized losses fell from 18% to 7% easing stress that still needs confirmation.

Bitcoin Realized Cap flows turned net positive and apparent demand topped issuance for six days, but at 2.52 it sits in the weakest 10% since 2024.

BTC reclaimed the STH cost basis at $68K and broke above SMA200/SMA111, putting short-term holders back in profit. SMA365 at $83K is resistance.

STH supply in profit jumped to 74.9% as BTC rebounded 22% to $77K, but net flow to exchanges crossed +25K BTC. Watch for distribution pressure.

Bitcoin rose 20%, yet US spot premium is negative and open interest in BTC dropped 8.7%.