On-Chain: The 4 Major Reasons for the plummet and the Answer to Why Bitcoin is Not Rising
As short-term demand contracts, more than 800,000 BTC have been sold or moved in the last 30 days. Some of these transfers are considered OTC sales, while others are distributions to wallets, but they are interpreted mainly as sales.
Treasury companies have essentially stopped buying, and some have even sold part of the shares they own.
Short-term investors are turning every rise into a selling opportunity, which is why the rallies are very short-lived.
#BTC #BitcoinPriceWatch

Altcoins created a noticeable divergence in the market by standing out unusually stronger compared to Bitcoin during last week's get dumped (BTC).
Last week's sharp pullback naturally had the market's attention on the price of Bitcoin, but on-chain data indicated a different picture. Analysis shared by Glassnode revealed that altcoins, which have been underperforming for a long time, demonstrated a better stance than Bitcoin in this downturn. This situation has turned into an important signal in terms of both investor psychology and market structure.
According to the analysis, the

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The highest collective inflows into Bitcoin ETFs in the last 7 weeks have been recorded, and this situation is compared to the beginning of previous rises.
According to Santiment data, large funds have started to turn to Bitcoin ETFs again as retail investors exit the crypto market. This picture stands out as a sign seen during past rally periods. Sudden jumps in ETF inflows in the past have paved the way for strong bullish movements in Bitcoin prices.
One of the striking points in the chart was the inflow of 390.5 million dollars into ETFs before Bitcoin reached its all-time high on August 8.

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