Bitcoin Stabilizes Below Monthly High Amid ETF Outflows
- Bitcoin (BTC) is currently priced at $73,548.22, approximately 10% below its monthly high of $81,000.
- Long-term holder supply has reached a record of 15.8 million BTC, indicating coins held rather than traded.
- Short-term holder supply has decreased by about 2.2 million BTC since December, including around 900,000 BTC from Coinbase reserves.
- Demand from spot bitcoin ETFs has weakened, with net outflows reaching a record nine-day streak.
- Glassnode’s realized profit/loss ratio stands at 1.56, below levels typical of stronger bull markets.
The current stabilization of bitcoin reflects a lack of new buyers rather than an oversupply from sellers, as risk assets have generally advanced due to improved geopolitical sentiment. The cooling demand for spot bitcoin ETFs is contributing to the price stagnation.
With bitcoin’s price hovering near $73,500 and long-term holder supply at a record high, the market appears to be experiencing reduced activity rather than fresh buying momentum.(Source)
