According to @Excellion, a cohort of price-insensitive buyers with deep capital, including treasury-type firms he referenced and high-revenue companies like @Tether_to, is actively accumulating BTC, creating persistent buy-side demand, source: @Excellion on X, Nov 17, 2025. According to @Excellion, at a BTC price of 95,000 dollars these buyers effectively view the market as offering roughly a 20 percent discount or a 20 percent acceleration to their acquisition rate, source: @Excellion on X, Nov 17, 2025. According to @Excellion, because Bitcoin’s supply is absolutely scarce, sustained demand from these entities must ultimately be reconciled through price appreciation, source: @Excellion on X, Nov 17, 2025. According to @Excellion, these advantageous acquisition conditions are unlikely to persist for extended periods, implying that discounted dips may be short-lived under continued accumulation, source: @Excellion on X, Nov 17, 2025.