BTC vs NDX gap still wide... room to mean revert if risk turns.
Source: TME, LSEG
Commercials are extremely Net-Short Bitcoin.
Large Speculators are extremely Net-Long. Prior cases marked bottoming processes for Bitcoin $BTC Will it be the case this time? Source: Subu trade
Without comments
Source: Trend Spider
ALERT: Search interest for “Bitcoin going to zero” is now higher than it was in 2022.
Source: Cointelegraph @Cointelegraph
Bitcoin ETF's cumulative net inflows peaked at +$63B in October. Today (after the "massive" outflows) it's +$53B. That's NET NET +$53B in only two years.
Initially, most predictions were for $5-15B in the first year. This is an important context to consider when looking/writing about the $8B in outflows since 45% decline and/or the relationship between $BTC and Wall street, which has been overwhelmingly positive. h/t @JSeyff
The February hashrate drop was a "perfect storm" that triggered an 11.4% downward difficulty adjustment, the largest since 2021.
Why it happened: - Texas Weather: Severe winter storms forced industrial miners to shut down to save the power grid (or sell their energy back for higher profits). - Price Correction: Bitcoin’s drop toward $60,000 made older rigs unprofitable. Some firms pivoted their hardware toward AI training for better margins. - Regulation: Renewed crackdowns on "gray" mining in Russia and China removed significant hardware from the network. The Result: The network has already begun a "V-shaped" recovery. The lower difficulty has made mining profitable again for the remaining operators, and hashrate is already bouncing back. This is actually one of the sharpest V shape recovery in hashrate we've ever seen. Source: ₿ Isaiah ⚡️ @BitcoinIsaiah
Bitcoin $BTC has repeatedly shown an uncanny ability to move in the opposite direction of what the prevailing narrative would suggest.
Source: Beth Kindig @Beth_Kindig
BITCOIN VS GOLD
- Gold rallied first in 2016 → Bitcoin followed months later (+30x into 2017) - Gold rallied again in 2019 → Bitcoin followed into 2020–21 - In 2025, gold surged to new highs while Bitcoin lagged - Since 2020, BTC–gold correlation: 0.14 Historically, gold has led. Source: Ark Invest Tracker @ArkkDaily
