Bitcoin's Market Dynamics Show Resilience Amid ETF Activity

According to PANews, Glassnode co-founder Negentropic shared insights on the X platform, highlighting that recent developments in Bitcoin are not indicative of a narrative shift but rather a mechanical 'buffer.' Despite some long-term holders selling, Bitcoin ETFs continue to yield net gains, with their cost basis remaining unaffected. Solana ETF inflows remain stable, and altcoins are performing well compared to Bitcoin and Ethereum. Furthermore, the overall cycle structure remains intact, with strong demand for ETFs and spot markets. The macroeconomic outlook is generally neutral with a bullish bias. The market has not capitulated, and the trend remains unbroken. When the current downtrend eventually exhausts, the rebound could be significantly larger than the previous decline.