Facundo Fama
Bitcoin: Market Structure Shift ↓
1) ATH. 2) Since its latest ATH of nearly 20M BTC, SP fell 55% to 9M BTC. The decline took nine months. From that low, it has already recovered, reaching 15M BTC in September. 3) The last time a decline and recovery of this magnitude occurred after an ATH was during 2022-2023, which preceded a major bullish trend that extended through 2025. 4) Aug 23, 2026. BTC: $77K. On the weekly timeframe, Supply in Profit closed above its previous lower high, marking a shift in market structure. 5) Sep 27, 2026. BTC: $84K. The market price closed above its previous lower high, just as SP had done. 6) Together, both signals provided a bullish confirmation of the shift in market structure.