The market hasn’t gone up or down, but there’s one thing worth noting.
Many people think the recent行情 is boring.
Bitcoin has been trading back and forth around $59,000, and Ethereum hasn’t broken out into a true, meaningful trend.
So some people have started to wonder:
Is the bull market over?
But I think what’s really worth watching now isn’t the price—it’s the money.
Based on today’s data:
✅ Bitcoin is around 58,942
✅ Ethereum is around 1,580
Although the price hasn’t broken through, there hasn’t been a clear outflow of market funds.
Looking at the ETF data, the spot ETFs still hold nearly 750,000 BTC, which suggests long-term allocation capital is still staying in the market.
Now check the derivatives data: the total open interest across the whole market remains at a relatively high level. The funding rate stays positive, indicating that there is still some desire to go long in the market, but sentiment hasn’t entered a frenzied phase.
So what does this mean?
My understanding is simple.
It’s more like the market is waiting for direction, rather than the trend having already ended.
What you truly need to focus on is:
Whether ETF capital continues to flow in;
Whether open interest keeps increasing;
Whether trading volume can expand again.
If these three indicators start improving in sync, then the market may have a chance to see a new breakout.
Otherwise, it’s likely the market will continue to range, and patience matters more than chasing a rally.
🦛 Luru’s View
Many people only watch the candlestick chart.
What’s really worth watching is whether the money has left.
Price can be misleading,
But capital usually won’t.#比特币跌至59250美元
Many people think the recent行情 is boring.
Bitcoin has been trading back and forth around $59,000, and Ethereum hasn’t broken out into a true, meaningful trend.
So some people have started to wonder:
Is the bull market over?
But I think what’s really worth watching now isn’t the price—it’s the money.
Based on today’s data:
✅ Bitcoin is around 58,942
✅ Ethereum is around 1,580
Although the price hasn’t broken through, there hasn’t been a clear outflow of market funds.
Looking at the ETF data, the spot ETFs still hold nearly 750,000 BTC, which suggests long-term allocation capital is still staying in the market.
Now check the derivatives data: the total open interest across the whole market remains at a relatively high level. The funding rate stays positive, indicating that there is still some desire to go long in the market, but sentiment hasn’t entered a frenzied phase.
So what does this mean?
My understanding is simple.
It’s more like the market is waiting for direction, rather than the trend having already ended.
What you truly need to focus on is:
Whether ETF capital continues to flow in;
Whether open interest keeps increasing;
Whether trading volume can expand again.
If these three indicators start improving in sync, then the market may have a chance to see a new breakout.
Otherwise, it’s likely the market will continue to range, and patience matters more than chasing a rally.
🦛 Luru’s View
Many people only watch the candlestick chart.
What’s really worth watching is whether the money has left.
Price can be misleading,
But capital usually won’t.#比特币跌至59250美元
