Recent data shows an intriguing dynamic in Bitcoin's market: While the NVT Golden Cross metric is declining, Bitcoin’s price continues to rise, and spot ETF inflows are reaching new highs. This trend suggests that institutional investors are increasingly entering the Bitcoin space through regulated ETFs, fueling price gains even as on-chain activity remains relatively low.
Unlike past cycles where retail investors led the charge, this new phase reflects a shift toward institutional-driven growth. With ETFs providing a trusted, regulated avenue, institutional investors appear to be establishing a strong foundation for Bitcoin, potentially stabilizing its price and reducing volatility.
This dynamic hints at untapped potential, as retail interest hasn't yet fully engaged. When retail demand inevitably joins the mix, Bitcoin's price could be poised for a further breakout, supported by a solid institutional base.
Written by Kripto Mevsimi
