BTCC
/
BTCC Square
/
Thecryptobasic
/
ETF Flows and Open Interest—Not Network Activity—Now Drive Bitcoin’s Price: Analyst
ETF Flows and Open Interest—Not Network Activity—Now Drive Bitcoin’s Price: Analyst
5
3
Forget hash rates and active addresses—Wall Street’s paper Bitcoin is calling the shots now.
The New Leverage Game
Spot ETF flows and derivatives open interest have decoupled BTC from its on-chain fundamentals, says the report. When BlackRock sneezes, crypto catches a cold.
Ghost in the Machine
Miners? Developers? Retail adoption? Mere background noise compared to the $10B ETF inflow tsunami that drowned all other narratives this cycle. The ’digital gold’ narrative now trades at a CME desk near you.
Closing thought: Nothing brings ’decentralization’ to its knees quite like the gravitational pull of institutional capital. Bonus jab: At least the finance bros finally found something more volatile than their ex-wives’ alimony demands.
Bitcoin Daily Active AddressesBitcoin Daily Active Addresses
Moreover, zero-balance addresses declined significantly by 12.59%, indicating that inactive addresses are on the rise. This decrease in active user engagement suggests that the market rally is fueled by factors outside the core network’s usage.
By:
Previous
FBI Report: Crypto Scams Drain $9B from US Wallets in 2024
Next
Coinbase and PayPal Double Down on Crypto Domination—Stablecoin Payments Go Mainstream
