Bitcoin demand growth has clearly peaked, with ETF flows turning net negative and large holder accumulation falling below trend. price has broken below the 365-day moving average while derivatives funding signals declining risk appetite. historically, when demand rolls over and structure weakens together, the market transitions into a bear regime rather than a simple correction.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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