$BTC

Bitcoin traded in a relatively tight range today, showing controlled price behavior despite macro uncertainty.

Spot demand remains stable while derivatives funding stays neutral, indicating balanced positioning.

ETF flows continue to act as a structural support layer rather than a short-term pump catalyst.

On-chain data shows long-term holders still not distributing aggressively.

This suggests conviction remains intact even during consolidation phases.

Hashrate and network security metrics remain near strong levels.

Macro correlation with equities is slightly reduced compared to earlier cycles.

Volatility compression is visible on lower timeframes.

This often precedes a directional expansion rather than random chop.

Market is treating BTC as a macro asset, not just a speculative token.

Overall: stability > weakness today.