Bitcoin has rebounded above $61,000, signaling resilience despite persistent outflows from spot Bitcoin ETFs. On-chain analytics from Glassnode and Bitfinex indicate that long-term holders (LTHs) are actively accumulating Bitcoin, absorbing the selling pressure from ETF redemptions. This 'accumulation beneath the surface' suggests a strong conviction among seasoned investors, even as institutional flows appear to be cooling. The key takeaway is that fundamental demand from long-term players is countering short-term selling. Investors should monitor the sustained LTH accumulation trend against any significant shift in ETF flow dynamics to gauge market direction.
Long-term holder accumulation amidst ETF outflows suggests fundamental demand is absorbing institutional selling. This dynamic indicates robust underlying support for Bitcoin, potentially limiting downside and setting the stage for future appreciation once ETF flows stabilize or reverse.
Long-term holder supply reaching new highs → signals diminishing available supply for future demand shocks.
Bitcoin reclaims $61,000 as Glassnode and Bitfinex flag long-term holder accumulation beneath persistent ETF selling.