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A $BTC whale just offloaded 2,000 $BTC at a $5M realized loss, a clear capitulation move.
Unrealized losses across crypto have now ballooned to $350B, with Bitcoin alone carrying $85B.
Meanwhile, exchange netflows stay negative for 5 days straight, signaling quiet accumulation.
$BTC is now pinned between EMA20 support and major EMAs overhead.
Above $94K = momentum flips.
Lose $90K = pressure resumes.
This is the exact zone where cycles turn.