Co-fondateur de Glassnode : le Bitcoin ETF maintient toujours un revenu net, la base de coût n'a pas été affectée.

ChainCatcher message, Glassnode co-founder Negentropic stated on the X plateforme that what is happening with Bitcoin is not a narrative shift, but rather a mechanism “buffering”. Currently, the ETF still maintains net gains, and the cost basis has not been impaired. Although some long-term holders are selling, the inflow of funds into the Solana ETF remains stable, and the alts are performing better than BTC and ETH. Moreover, the overall cycle structure remains intact, with strong demand for ETF and Spot, and the macroeconomic environment generally maintains a neutral to haussier stance. The market has not capitulated, and the trend has not been broken. When the chute eventually exhausts, the magnitude of the Rebond may be much greater than the previous decline.