Key Takeaways
Bitcoin’s ETF inflows tanked 80%, but traders remain active, with Open Interest elevated and 95.8% of supply still in profit, setting the stage for either fresh demand or short-term correction risk.
Bitcoin [BTC] had a slow week, but not without signals worth watching.
BTC ETF inflows dropped a staggering 80% compared to the previous week — the sharpest decline in months, according to the recent Glassnode reports.
For a market largely driven by institutional enthusiasm, that kind of pullback is hard to ignore.
Source: Glassnode
Derivatives heat stays on
Yet, despite that, derivatives markets were still running hot. Open Interest in CME Futures remains elevated, according to CryptoQuant data.
This suggests that traders — especially short-term speculators — are still positioned in anticipation of a further rally, even as ETF flows decelerate.
Source: CryptoQuant
Profit levels remain high but so do risks
Adding another layer to the story, on-chain data shows 95.8% of BTC supply is still in profit. That is a powerful sign of long-term strength — but also a warning.
When nearly every holder is in the green, the risk of profit-taking increases, especially if momentum stalls.
This could, in turn, spark panic mode among the short-term holders, and as a result, it could ultimately initiate a short correction on the BTC price chart.
Source: CryptoQuant
That possibility is compounded by another soft metric: Active Addresses.
Weekly activity has slipped from early July highs, hinting that large wallet holders are hesitating, neither selling in panic nor buying aggressively. It’s a “wait-and-watch” lull.
Source: CryptoQuant
What the market’s mixed signals mean for BTC
The takeaway to Bitcoin investors and traders alike seems to be this: BTC is caught in a moment of hesitation. Institutional buyers are taking a breather, on-chain activity is softening, but traders are not ready to throw in the towel just yet.
With nearly all coins still in profit, any further weakness could prompt a wave of sell pressure. The next move likely hinges on whether fresh demand — either from retail or institutions — steps in soon.
Otherwise, BTC may face a short-term correction before its next rally.
