📊 $BTC #Ecoinometrics : Bitcoin's price isn't in oversold territory yet, but the broader market weakness is bad news.

📊 #Ecoinometrics : Performance wise, $BTC is being challenged by Meta and $ETH is getting crushed.

This sums up the market so far this year.

The key issue: Bitcoin remains range-bound with no clear catalyst on the horizon.

🎢👀 #Ecoinometrics : $BTC just had one of its least volatile three months in history. But the same thing happens every cycle. In every halving cycle you can find long periods of time where Bitcoin stays in a relatively narrow price range.

Then suddenly the price explodes one way or another. The current cycle is not different.

📊 #Ecoinometrics : $BTC is up 3.1% in July. Nothing impressive.

Except for the #ETF bump in February, this year hasn't seen much action so far.

🤔 #Ecoinometrics : $BTC is bouncing from the bottom of the growth range of the halving cycle.Almost three months after the fourth halving it is time for something to happen.

📊 #Ecoinometrics : Small outflows for $BTC -#ETF's last week

We're far from the strong period of inflows that pushed Bitcoin's price to a new all-time high at the start of the year.

📊👀 #Ecoinometrics : Last week's correction reshuffled the performance ranking among major assets for this year, but not drastically.

$BTC still leads the pack of large-cap assets, though it's now tied with Meta.

Most other assets maintained their relative positions, except for $ETH , which took a significant hit during the correction.

Overall, last week's events haven't fundamentally changed the game.

📊 #Ecoinometrics : $BTC remains only a small fraction of the gold market's size. But every few years it takes a significant leap forward in relative value.

We're still waiting for that leap to happen in this cycle.

📊 $ETH #Ecoinometrics : The Ethereum ETFs are struggling. Since their launch, they have recorded negative total net flows.

This is primarily due to the Grayscale Ethereum Trust bleeding cash.

It's a similar story to the Bitcoin ETFs, except for ETH there isn't enough demand to compensate for the Grayscale drag.