Bitcoin remains in correction, trading at $86,609 at the time of this publication, with a moderate daily gain (+0.75%), but a weekly decline (-6.48%). The market shows divergence: ETFs report capital outflows, while Michael Saylor has accumulated more than 671K BTC. The overall sentiment is one of extreme fear (11), but miners and whales signal holding, indicating that there may be accumulation opportunities in the long term.
KEY INDICATORS
Short-term – selling pressure and pessimism
◾ETFs recorded an outflow of $634.8 million over two days (Farside Investor). The Coinbase premium at -16.04 and the Fear and Greed Index at 11 amplify extreme fear. On-chain, the SOPR at 0.98 indicates selling at a loss, with 35% supply at a loss reflecting stress, and the MVRV-STH at 0.84 signals capitulation of short-term holders.
Long-term – Metrics indicate retention and accumulation
◾The Puell Multiple at 0.85 indicates moderate undervaluation, while the MPI at -0.81 shows that miners are sending less BTC to exchanges, reducing selling pressure. The MVRV-LTH at 1.55 indicates that long-term holders remain in profit, while whales holding between 1K and 10K BTC have accumulated +694K BTC over the past 60 days.
CONCLUSION
The current picture shows a market in transition, where short-term pessimism contrasts with strategic accumulation. This disparity between institutional outflows and the conviction of major players underscores that Bitcoin oscillates between immediate stress and long-term growth expectations.
News is for reference, not investment advice. Please read carefully before making a decision.
