Bears will struggle to dominate until the inflow into spot Bitcoin ETFs ceases.
The previous week recorded a net inflow of over 30,000 BTC into spot ETFs. Significant holders such as exchanges and miners possess roughly 3 million BTC, with US-based entities accounting for 1.5 million of that total.
At the current pace, a crisis in sell-side liquidity could emerge within the next six months.
Bitcoin is presently undergoing a phase of price discovery.
Should a sell-side liquidity crunch materialize, the subsequent peak in Bitcoin's cycle could surpass expectations, propelled by scarce sell-side liquidity and a slim order book.
This scenario is likely once the total holdings of accumulation addresses approach the 3 million BTC mark.
