Bitcoin has a Bull Score of 90/100.
It looks extremely bullish.
But I went and looked at what’s underneath that number…
And I found something that would make me pay MORE attention, not less.
Over the last 30 days, the estimated spot demand has decreased by about 170k BTC.
And the growth in speculative demand in the futures dropped by roughly 90% in just 15 days.
At the same time:
$BTC came out of US$87.4K and went back to around US$83K.
And yesterday, the ETFs still received +US$66.2 million in net inflows.
So:
ETF is still positive ✅
macro structure is still bullish ✅
but the strength of new buyers is decreasing ⚠️
This is exactly the kind of scenario where I don’t like looking at a single indicator and saying:
“buy”.
At Zion Smart DCA, I want to know whether demand RETURNS before interpreting a bullish score as a guarantee of continuation.
And there’s another test coming:
the market still needs to digest the U.S. PCE, and long-term American interest rates are at levels we haven’t seen in years.
$BTC #bitcoin #crypto #etf
For you, is BTC holding US$82K–83K while demand cools a sign of strength…
or a warning that the market needs to breathe?
It looks extremely bullish.
But I went and looked at what’s underneath that number…
And I found something that would make me pay MORE attention, not less.
Over the last 30 days, the estimated spot demand has decreased by about 170k BTC.
And the growth in speculative demand in the futures dropped by roughly 90% in just 15 days.
At the same time:
$BTC came out of US$87.4K and went back to around US$83K.
And yesterday, the ETFs still received +US$66.2 million in net inflows.
So:
ETF is still positive ✅
macro structure is still bullish ✅
but the strength of new buyers is decreasing ⚠️
This is exactly the kind of scenario where I don’t like looking at a single indicator and saying:
“buy”.
At Zion Smart DCA, I want to know whether demand RETURNS before interpreting a bullish score as a guarantee of continuation.
And there’s another test coming:
the market still needs to digest the U.S. PCE, and long-term American interest rates are at levels we haven’t seen in years.
$BTC #bitcoin #crypto #etf
For you, is BTC holding US$82K–83K while demand cools a sign of strength…
or a warning that the market needs to breathe?
