Bitcoin has yet to join the rebound seen in U.S. equities and gold, even as spot Bitcoin ETF flows in the United States have turned positive again and several long-term on-chain indicators have moved closer to historically depressed levels. Since peaking at about $126,000 in October last year, Bitcoin has remained in a prolonged correction and has spent the past 30 days trading sideways between $62,000 and $66,000, according to CoinGecko. Over the past 90 days, Glassnode said the S&P 500 rose about 5% while Bitcoin fell 20%, underscoring a sharp divergence in performance. The report, written by Nancy for PANews and republished by Blockcast, points to a mix of countervailing forces. On one side, Santiment Intelligence data showed 2.27 million new BTC wallets and 751,000 active wallets over the past week, while SoSoValue recorded five straight trading days of net inflows into U.S. spot Bitcoin ETFs, totaling $854 million, the strongest weekly result since April 17. On the other side, miner selling, liquidity needs at crypto DAT companies, and weak U.S. spot demand continue to weigh on price action. CryptoQuant said miner-linked OTC balances have dropped from about 500,000 BTC in November 2021 to 139,700 BTC, while Coinglass showed the Coinbase Bitcoin Premium Index has stayed negative for 80 consecutive days. PAData’s bottom-fishing dashboard shows only 4 of 12 core indicators in the hit zone, suggesting some bottoming signs are in place but a full cyclical low has not yet been confirmed.

Bitcoin has yet to join the rebound seen in U.S. equities and gold, even as some market conditions begin to improve. After peaking at about $126,000 in October last year, the asset has stayed in a prolonged correction and has recently traded sideways between $62,000 and $66,000 over the past 30 days, according to CoinGecko. PANews, in a report by Nancy cited by MarsBit, said the disconnect has persisted despite renewed inflows into U.S. spot Bitcoin ETFs and a pickup in several long-term valuation and cycle indicators. Data cited in the report showed U.S. spot Bitcoin ETFs posted net inflows for five straight trading days last week, totaling $854 million, the strongest weekly performance since April 17, according to SoSoValue. At the same time, Santiment Intelligence recorded 2.27 million new BTC wallets over the past week and 751,000 active wallets, though the jump in activity was linked in part to security concerns triggered by the Coldcard wallet incident rather than outright risk appetite. The report argued that persistent selling from miners and crypto DAT companies, along with weak U.S. spot demand reflected in an 80-day negative Coinbase Bitcoin Premium Index streak, has capped price recovery. PAData’s bottom-fishing dashboard showed 4 of 12 core indicators have entered hit zones, but broader metrics tied to valuation, sentiment, profitability, liquidity, and on-chain activity have not yet reached the extreme levels that have historically marked a confirmed cycle bottom.

Ethereum's MVRV ratio has fallen below 0.8 for the first time since 2022, historically a 'generational buy zone' preceding 149%-587% rallies. Meanwhile, Bitmine accumulated $140.74M in ETH in one week, holding 3.86% of circulating supply.

Glassnode's latest report declares the 2022 Bitcoin bear market as possibly the most severe in digital asset history, with capital outflows hitting record levels and multiple metrics showing unprecedented investor losses.

On-chain data provides real-time, transparent insights for crypto spot traders. This guide explains key metrics like transaction volume, active addresses, exchange flows, and how to combine them with technical analysis and whale monitoring to identify trends, accumulation, and distribution.

Santiment says Bitcoin’s long-term MVRV remains in an opportunity zone, while whale wallets and ETF trading volumes point to resilient demand. However, a clearer macro and geopolitical backdrop is still needed before the market chooses a definitive direction.

Santiment says Bitcoin remains in the MVRV opportunity zone, while wallets holding 100+ BTC keep rising and ETF trading volume stays near record highs. The data suggests whales and institutions remain engaged, though macro clarity is still needed for a decisive move.

Santiment says Bitcoin’s long-term MVRV remains in an opportunity zone, while whale holdings and ETF trading volumes suggest resilient institutional interest. A clearer macro backdrop may be needed for a decisive breakout.