Weekly Deep Dive: Bitcoin Bears Face a Patience Test as Coin Rotation Lags Prior Cycles

Bitcoin bounced 10 percent off the $58.2k lows established on June 30 and closed above its 200-week moving average on Sunday, sparking early calls that “the low is in.” But a closer look at on-chain coin rotation, demand metrics, and corporate treasury dynamics suggests the bear market still has unfinished business. Here is what is happening: