339k BTC moved at a loss last week... twice a normal week.

339k BTC moved at a loss in the last 7 days (Oct 28–Nov 3), about twice a normal week. 134k moved in profit.

Half of the coins that moved at a loss had last moved between $82k and $86k. Bitcoin closed Nov 3 at $77.3k.

Coins held a week or more, counted on my own node. Moved ≠ sold. Not a forecast.

A normal week (median of the 52 before) is 165k BTC at a loss and 116k in profit. Coins that moved again within the same week (6.6M BTC, 92% of everything that moved) are excluded; without change returned to the same address the week’s total is 376k BTC, not 557k.

The second image shows the same coins over the last 52 weeks.

(That's the data, here is my read)

Opinion: We're in a bull market, for sure. But this last week was certainly a test of conviction from newer holders, once the shakeout is complete I'm quite certain we'll see north of $90k fast.