Markets· ★★★· neutral·

Glassnode: Bitcoin Rally Driven by Existing Holders as ETF Inflows Decline

  • —Existing holders, not new capital, are driving the current Bitcoin rally
  • —ETF and stablecoin inflows are declining even as realized market cap rises
  • —BTC is testing the $64,000–$65,000 range on inactive trading volume
  • —The 2024–2025 rallies saw significantly higher inflows of new money
Why it matters: Without a return of ETF and institutional inflows, Bitcoin's rally may struggle to sustain momentum.
#BTC
Source: Coinfomania
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