Bitfinex Blog/
ETF Flows Anchor Bitcoin As On-Chain Profits Return
Bitcoin is trading in a tight range between $79,100 and $85,200, supported by spot ETF flows but facing resistance from a decline in corporate treasury buying and high daily realized losses. While on-chain profits have turned positive, high realized losses and a restrictive macroeconomic environment with rising US Treasury yields suggest potential volatility and a possible retracement.
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Why It Matters
The shift in institutional demand from a dual-channel (ETFs and corporate treasuries) to a single-channel (ETFs only) reduces market stability and increases reliance on a single source of buying pressure.