the upside down wormhole - Why Bitcoin’s supply imbalance is hinting at more downside before recovery
Bitcoin [BTC] has been on a bearish trend since October 2025. Since its all-time high of $126K, BTC has shed 46% of its value in just under six months. That it has been a bear market is under no doubt anymore.
What was in contention, however, was the extent of the distribution phase. In fact, crypto analyst Axel Adler Jr. recently found that large and mid-sized Bitcoin investors still hold around 68% of the BTC supply.
? KEY STATISTICS
Possession: 55% - 45%
Shots on target: 6 - 3
Pass accuracy: 88% - 82%
Corners: 5 - 2
??? POST-MATCH REACTIONS
"We showed great character," said the winning coach. "The team never gave up."
The losing side rued missed opportunities but vowed to come back stronger.