Bitcoin (BTC) is trading uncomfortably close to the $90,000 mark, as a mix of macro caution, thinning liquidity, and shifting market structure continues to weigh on price action.

Related Reading: Wall Street Storms Ripple In Explosive $500 Million Deal

What was once a retail-driven ecosystem is now increasingly shaped by institutional flows, with U.S. spot Bitcoin ETFs attracting substantial assets, while on-chain activity trends in the opposite direction. The result is a market that moves, but with participation patterns very different from those seen in earlier cycles.

Bitcoin ETF Flows Rise as Retail Activity Falls

Since the launch of U.S. spot Bitcoin ETFs in early 2024, the network has experienced a steady decline in active on-chain addresses. Analysts attribute this partly to

See Full Page