This Bitcoin $BTC rally feels mostly driven by existing holders just revaluing their bags higher rather than a wave of fresh capital. Realized cap is still climbing while the usual new money sources like ETFs, stablecoins, and treasuries have been fading out. We saw a similar mismatch in the 2024 and 2025 runs, except those had way stronger inflows backing them up. If some real new demand actually shows up, this move could finally have some legs under it. $ETH #BTC Price Analysis# #ETH