In the last 24 hours, Bitcoin continues to show its role as the 'central flow' of the crypto market, as both Spot Netflow and on-chain data signal positively, while the price remains mostly sideways.
🔹 Spot Netflow: Real money is flowing into BTC
Spot Netflow data shows BTC recorded a net inflow of +84.07 million USD in 24h. Notably, the inflow appeared consistently across multiple time frames:
2h: +135.41M
4h: +115.52M
8h: +184.33M
This reflects that investors are buying spots instead of using leverage, indicating a cautious yet accumulative sentiment. The cash flow is not entering in a burst, but flowing steadily → signs of intentional accumulation.
🔹 Compared to altcoins: BTC is prioritized
While BTC attracts capital, major altcoins are showing clear polarization. ETH has strong fluctuations in cash flow, even recording significant outflows in the 12h frame. XRP, SOL, and BNB mostly recorded net outflows in the 12h–24h.
This pattern often occurs when:
The market shifts to a slightly risk-off state
Investors are reducing risk, prioritizing holding BTC instead of altcoins
🔹 On-chain: No signs of distribution yet
Combining on-chain data shows:
No large BTC inflows onto exchanges → low selling pressure
Exchange balance remains stable or slightly decreases
Whales have not taken strong selling actions, mainly standing by to observe or passively accumulate
Short-term holders are not panicking → the market is still managing sentiment
These factors support an accumulation scenario, rather than peak distribution.
🔹 Relating to the derivatives market
Strong spot inflow compared to futures indicates:
Cash flow prioritizes real buying, real holding
Funding rate remains neutral → no FOMO yet
No large squeeze has appeared → the market is compressing pressure
The synthesis of Spot Netflow and on-chain shows:
BTC is being accumulated in the sideways price range: The cash flow is defensive but positive. The market has not confirmed a strong trend, but the probability of a deep dump is low
📌 The current phase is suitable for:
Monitor breakout with volume
Avoid FOMO
Prioritize risk management
BTC is still leading the cash flow of the entire market.
#BTC #Bitcoin #Onchain #SpotNetflow #CryptoMarket #BinanceSquare
