Bitcoin Adoption Booms While Bear Market Deepens: Watch These Signals
Despite recent price consolidation, key Bitcoin adoption metrics from ETFs, whales, miners, and corporate treasuries offer diverging signals on underlying capital commitment.Summary
Bitcoin (BTC) has consolidated between $60,000 and $70,000 after a 35% drop, yet several adoption metrics show underlying commitment despite muted price action. US spot Bitcoin ETF net flows have turned negative on a 90-day rolling average, mirroring a previous period before a correction, indicating reduced institutional buying pressure. Conversely, whale accumulation (addresses holding 1,000 to 10,000 BTC) shows potential bullish signals if the 1-year change crosses above its 365-day moving average, suggesting faster accumulation. Furthermore, the Bitcoin hash rate is near 0.99 ZH/s, and a sustained rise during sideways price action signals long-term infrastructure commitment from miners. However, corporate Bitcoin treasury accumulation has slowed significantly since late 2024, indicating companies are maintaining positions rather than driving new demand. These divergences suggest steady capital commitment beneath the surface, with specific metric crossovers potentially signaling the next major price move.
(Source：Cointelegraph)