Analysts: ETF inflows provide buying support for Bitcoin, while recent sell-offs mainly come from short-term holders.

According to ChainCatcher, citing The Block, Timothy Misir, Head of Research at BRN, stated that ETF inflows have provided the first meaningful buying support in recent days, helping bitcoin remain within the fragile sideways accumulation range of $84,000 to $90,000. "The inflows have started to provide support, but they are not yet decisive," Misir said. He pointed out that on-chain pressure remains high, with about one-third of the bitcoin supply still at a loss. "Long-term holders and institutions are still selectively accumulating, while recent selling has mainly come from short-term holders." In addition, Misir mentioned that macro signals remain complex—including the US Producer Price Index (PPI) meeting expectations—which leaves the Federal Reserve's policy path uncertain. "The inflation data has neither forced the Fed to accelerate rate cuts nor required it to remain hawkish. The market must price in the possibility of both directions this week," Misir said.