X and ChatGPT are down #Bitcoin has 99.99% uptime since 2009

Where could it head next? The BTC ETF Realized Price sits at $86,586. Current ETF MVRV is 1.08, meaning the average position is still up 5%.

The selling pressure has taken a toll. Bitcoin ETFs are now down -$3.98B from their all-time high, which is the 2nd largest drawdown since launch.

This marks a clear shift from last year’s Q4. Quarterly ETF Flows: - Q4 2024: +194K BTC - Q4 2025 (to date): -8K BTC Last year’s Q4 was driven by strong inflows, but this year, the seasonal strength has faded.

This has resulted in ETF flows turning net negative for three consecutive weeks. ETF outflows continue to weigh on the BTC spot market.

U.S. session selling continues to dominate. Cumulative returns during U.S. hours are negative for the entire month, while Europe and APAC remain flat or slightly positive.

Bitcoin has been red for four straight weeks. The Coinbase Premium Gap dropped as low as -$90, which is a sign of strong U.S. selling pressure. Here’s the key data behind the U.S. investor sell-off

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