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Though lower than the prior week, last week's inflow of 6,148 $
BTC
into US spot ETFs marks the 7th consecutive week of net inflows - highlighting consistent demand despite cooling momentum.
#BTC
#ETF
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3–5y $BTC holders reached an ATH of 15.7% of supply on Nov 9, 2024 - the highest since Mar 2017. They began selling soon after, paused, then resumed in Apr 2025. Now at 11.9%, their supply share remains well above the ~3% cycle low - still a major overhang.
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Investor behavior data for $BTC shows a drop in Momentum Buyers (RSI ↓ to ~20) alongside a sharp rise in Profit Takers (RSI ↑ to ~77) around May 28. This trend often shows near local tops, as traders begin locking in gains instead of building exposure: https://glassno.de/4jlDez0
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MVRV Ratio compares #BTC's market price to the average investor cost basis - helping gauge when investors hold outsized unrealized profits. We're now trading between +0.5σ ($100.2K) and +1σ ($119.4K) bands, a zone that has often preceded local tops.
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Spot $BTC ETFs have seen >$300M/day in inflows past week and continue to drive sustained buy-side pressure this week. Yesterday, the 7-day SMA of ETF inflows clocked in at around 2.2K #BTC, worth nearly $250M: https://glassno.de/4kfrWg5
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This cycle, $BTC and $ETH no longer grow in tandem. We partnered with @CMEGroup to cover the distinctive trends shaping each market in our new institutional-grade overview of H1 2025. 🔸#Bitcoin H1 Report: https://glassno.de/43D6oTM 🔹#Ethereum H1 Report: https://glassno.de/43Dhng3
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