Bitcoin ETF flows still aren’t signaling a recovery.
Since the October all-time high, spot Bitcoin ETFs have failed to sustain a meaningful streak of net inflows. Flows have been largely choppy, with no prolonged run of demand.
That’s enough to support price stabilization, but historically it hasn’t been enough to restart upside momentum.

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The Pi Network community is raising the alarm about a new scam that has emerged, resulting in millions of Pi Token being stolen from users' wallets.
This scam exploits the payment request feature...

Pi Network has temporarily suspended payment requests after being scammed out of 4.4 million Pi coins.

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David Beckham-backed company abandons plans to buy Bitcoin.

The charts speak for themselves, and market sentiment has shifted accordingly. As 2025 draws to a close, we must face reality: Bitcoin has officially entered a bear market.

For months, traders and analysts have debated whether the price action was merely a consolidation phase or a deeper correction. Now, confirmation signals have arrived, not only in price but also in on-chain data, reversals in capital flows, and the convergence of fragmented market structures. While the term "bear market" often triggers panic, understanding the mechanisms behind this downturn is the first step to navigating this difficult period successfully.

This in-depth analysis will break down the factors defining the current landscape at the end of 2025...

Bitcoin has officially entered a bear market: On-chain evidence, fund flows, and how investors can profit.

Stabilization and recovery are not the same thing.
A durable move higher usually requires persistent demand, something that shows up as a multi-week streak of net inflows. Until that happens, upside moves tend to be fragile and easily reversed.
This is why watching flows, not just price, matters.
Follow @ecoinometrics  for more data-driven insights on Bitcoin and macro.

We cover this question, stabilization vs recovery, explicitly in the Bitcoin Market Monitor.
In the December edition, our probabilistic baseline pointed to consolidation rather than a breakout. So far, that’s played out, with Bitcoin unable to sustain a move above ~$95K.
The December issue is available to read here: