Bitcoin's Dual Reality: Turbulent Charts vs. Bullish On-Chain Signals
Bitcoin spent the day with a split personality. On one screen, the chart still looks rough: leveraged longs flushed out, price more than 45–50 percent below its 2025 peak, and analysts warning that the macro backdrop could still drag it lower. China’s continued move away from U.S. Treasuries has stoked a broader risk‑off mood that’s helped gold more than bitcoin (BTC), and some traders are eyeing any bounce back toward the high‑$80Ks as a potential place to short, not celebrate. On another screen, though, the behavior beneath the surface tells a different story. On‑chain data shows whales dumping into the sell‑off, then aggressively buying back as the dip deepened. Long‑term holders have been taking profits, but new buyers and “buy the dip” veterans are quietly accumulating. U.S. spot bitcoin ETFs, which had been leaking assets, just logged back‑to‑back inflows again as institutional selling pressure eased. Crypto ETP outflows more broadly are slowing, not accelerating, and trad...