One year ago today, Bitcoin made its all-time high. $126,080.
Right now it trades around $85,500. Thirty-two percent lower.
The anniversary tape was not kind either. Spot BTC ETFs shed roughly $90M on Monday, and cumulative ETF inflows have slipped about 6% from their peak. ETH ETFs logged a fifth straight day of outflows.
And yet. Look back sixty days and BTC is up 32.6%. Ninety days, up 38%. Prices well off the top, but recovering hard for two months straight.
Distribution is slow and grinding. This does not look like distribution. It looks like a forced deleveraging event, followed by real spot demand quietly rebuilding the bid.
Tops get anniversaries. Recoveries just need time. Follow for the daily read.
$BTC $ETH
Right now it trades around $85,500. Thirty-two percent lower.
The anniversary tape was not kind either. Spot BTC ETFs shed roughly $90M on Monday, and cumulative ETF inflows have slipped about 6% from their peak. ETH ETFs logged a fifth straight day of outflows.
And yet. Look back sixty days and BTC is up 32.6%. Ninety days, up 38%. Prices well off the top, but recovering hard for two months straight.
Distribution is slow and grinding. This does not look like distribution. It looks like a forced deleveraging event, followed by real spot demand quietly rebuilding the bid.
Tops get anniversaries. Recoveries just need time. Follow for the daily read.
$BTC $ETH
