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%.

Bitcoin Regime Score hit Strong Bull (60) at $69.5K. The turn started Aug 17, before a $1.42B short squeeze amplified the breakout.

Net Taker Volume stays positive while Bitcoin open interest declines - buy-side demand without leverage. Watch for a break above $66.8K.