$BTC

#BTC Trading Pair

**Miner's Holdings Exceed 1.9 Million BTC! Three Streams of Capital Defend the $110,000 Line, Keep an Eye on These Three 'Nuclear Fuses' Tonight —**

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### 🛡️ **On-Chain Accumulation Trend: Miners, Oil Capital, ETF's Death Alliance**

1️⃣ **Ultimate HODL by Miners**:

- Total miner reserves reach **1.902 million BTC** (accounting for 9.3% of circulation), with weekly growth hitting a five-year high

- Marathon stakes 190,000 BTC with zero sales, hash power surges 23% signaling bullish trend

2️⃣ **Undercurrents in the Middle East**:

- Saudi Sovereign Fund address 0x3d7 increases holdings by 7,400 BTC, OTC premium firmly at **6.5%**

3️⃣ **ETF Reversal Nuclear Explosion**:

- BlackRock’s $IBIT halts four days of outflows, single-day inflow of $480 million, buying concentrated at $109,800-$110,200

Three Fuses: Policy Scythe is Hanging High

1️⃣ U.S. Treasury Yield 4.8%:

- If it breaks 5%, triggers $1.5 billion in institutional bond fund selling → BTC will face selling pressure

2️⃣ Exhaustion of Exchange Liquidity:

- Current stock only 1.68 million BTC, a single 50,000 BTC sell order has a slippage of 1.8%

3️⃣ Leverage Powder Keg:

- Binance funding rate 0.28% + CME open interest at $35.8 billion → Black Swan volatility >120%

Retail Defense Manual

✅ Breakthrough Strategy:

- Miner daily outflow < 1,000 BTC + OTC premium > 6% → Leverage long position

- Buy $112K call options + short MicroStrategy ($MSTR) for hedging

❌ Escape Signal:

- Coinbase premium < -0.5% or net inflow into exchange > 8,000 BTC in one hour

On-Chain Pressure Resistance Formula:

> BTC Resilience Index = (Miner Reserves × 0.8) + (OTC Premium × 1.5) - (Interest Rate Sensitivity × 2.2)

> >5.0 Bullish | Current Value: 5.8 (Glassnode Model)

Harsh Reality: 110K is the Normandy battlefield for miners, oil capital, and the short sellers — the next $500 million ETF shell will determine the century's squeeze!

#BTC