Bitcoin 
$95,870.81is on the agenda with important data showing signs of recovery after the sharp decline it experienced during the week. CryptoQuant CEO Ki Young Ju said that the price could move upwards again, citing three basic indicators that he described as the “cleanest road map” for Bitcoin. These statements offer remarkable clues for investors, especially at a time when BTC, which fell from $ 105,800 to $ 96,000, is looking for direction.
Capital Flow Remains Strong
Realized market capitalization has reached an all-time high of $1.12 trillion. Since this metric only rises during periods when new buyers enter the market at higher prices, the fact that capital inflows continue despite Bitcoin’s retreat of more than 10 percent in the last three days provides a strong foundation. It is estimated that the capital entering Bitcoin in the last week is between 2.6 and 3.1 billion dollars. This level historically indicates periods when downward trends did not deepen.
Whale Selling Pressure Reduces
The second important signal reflected in the on-chain data is that there is a significant slowdown in the sales pace of long-term investors. According to Glassnode, long-term holders moved 24,000 – 27,000 BTC per day this month, while in July this figure was at 12,500 BTC. However, the critical point is that the intensity of these movements decreases. Transactions, which made headlines with transfers as large as 1,000 – 1,400 BTC per hour, especially from wallets that have been dormant for more than seven years, have slowed down significantly this week. In historical cycles, this type of cooling process is often seen as the beginning of price stability.
The third signal goes beyond on-chain data and comes from the macro economy. While Bitcoin fell from $ 114,000 to $ 90,000, the strengthening of the dollar index and rising real returns suppressed risk appetite. According to Ki Young Ju, stopping the tightening on the macro side, or even a small easing, combined with ongoing capital inflows and decreasing whale sales, may be enough for Bitcoin to recover.
Of course, other parallel developments in the crypto industry also attract attention. For example, spot Ethereum in the USA 
$3,155.65 Outflows in ETFs are among the factors that affect the general atmosphere of the market. Although ETF outflows may create short-term pressure, analysts say it is unlikely to create a permanent selling trend. This, when evaluated together with on-chain signals for Bitcoin, shows that the market is seeking to stabilize.
In conclusion, although Bitcoin’s recent decline has demoralized investors, on-chain data indicates that the structure remains solid. Bitcoin can be expected to start an upward movement again in the medium term, especially if capital flows continue, whale sales slow down and pressure on the macro side eases. Although short-term fluctuations continue, the fundamental dynamics in the background show that a basis is forming where the price can find stability.
