🐱 Meow Bro took a look at the data: BTC is weak this month—not because nobody’s buying, but because old money is selling and new money can’t absorb the supply.
📊 Galaxy Head of Research Alex Thorn’s “Institutional Absorption vs. Long-Term Holder Distribution” metric
👉 Formula = net spot ETF inflows + corporate accumulation − BTC that had been dormant for over 5 years and has now been reactivated
👉 As of 10/18, the year-to-date total was approximately −127,300 BTC
Old coins are being sold faster than institutions can absorb them.
🔍 Both groups of buyers are faltering:
• Spot ETFs have seen only around $355 million in net inflows year to date, with a slight net outflow in October
• Farside: On 10/16, BTC ETFs saw $82.4 million in outflows and ETH ETFs $69.7 million, marking three consecutive trading days of net outflows
📉 BTC $81,090 (24h −0.14%), ETH $2,364 (−1.65%), Fear & Greed Index: 53.
Meow Bro’s levels to watch: $83,000 resistance, $80,000 the dividing line.
On the flip side: once ETFs see sustained inflows, this negative figure will narrow. The focus now isn’t price—it’s whether ETF flows can turn positive.
Do you think old-money distribution is almost over, or are more old coins still waiting to wake up? Join the discussion in the comments 👇
$BTC $ETH #链上数据 #ETF资金流 #CryptoMarket
For personal opinion only; not investment advice
📊 Galaxy Head of Research Alex Thorn’s “Institutional Absorption vs. Long-Term Holder Distribution” metric
👉 Formula = net spot ETF inflows + corporate accumulation − BTC that had been dormant for over 5 years and has now been reactivated
👉 As of 10/18, the year-to-date total was approximately −127,300 BTC
Old coins are being sold faster than institutions can absorb them.
🔍 Both groups of buyers are faltering:
• Spot ETFs have seen only around $355 million in net inflows year to date, with a slight net outflow in October
• Farside: On 10/16, BTC ETFs saw $82.4 million in outflows and ETH ETFs $69.7 million, marking three consecutive trading days of net outflows
📉 BTC $81,090 (24h −0.14%), ETH $2,364 (−1.65%), Fear & Greed Index: 53.
Meow Bro’s levels to watch: $83,000 resistance, $80,000 the dividing line.
On the flip side: once ETFs see sustained inflows, this negative figure will narrow. The focus now isn’t price—it’s whether ETF flows can turn positive.
Do you think old-money distribution is almost over, or are more old coins still waiting to wake up? Join the discussion in the comments 👇
$BTC $ETH #链上数据 #ETF资金流 #CryptoMarket
For personal opinion only; not investment advice