According to @simplykashif, Bitcoin’s price dip sits against structural supports including sovereign and corporate buying, stronger miner security, steady ETF demand, resilient long-term holders, accelerating development, and a fixed supply, making these the key factors to track on pullbacks (source: @simplykashif). U.S. spot Bitcoin ETFs were approved in January 2024 and can absorb supply via primary market creations, so traders should monitor daily net creations and redemptions from issuer disclosures and SEC EDGAR to gauge demand intensity during volatility (source: U.S. SEC; BlackRock iShares; Fidelity). Bitcoin’s supply is capped at 21 million by protocol consensus rules, which elevates the importance of inflow metrics and exchange balances when assessing scarcity on dips (source: Bitcoin.org). U.S. CFTC officials have repeatedly stated that BTC is a commodity under the Commodity Exchange Act, supporting the digital commodity framing referenced in the post (source: U.S. CFTC). Sovereign and corporate accumulation examples include El Salvador’s publicly disclosed BTC purchases and MicroStrategy’s ongoing treasury strategy, both of which can influence market liquidity and sentiment on selloffs (source: Government of El Salvador statements; MicroStrategy investor relations). Network security can be proxied by hash rate reported by major mining pools and client telemetry, while long-term holder behavior is measurable via coin age and supply maturity metrics from on-chain analytics providers such as Glassnode (source: major mining pools; Bitcoin Core; Glassnode). For trading execution, prioritize a checklist of daily spot ETF flows, miner hash rate and reserves, long-term holder supply share, sovereign and corporate filings, and dollar and liquidity gauges to distinguish accumulation from distribution during price drawdowns (source: ETF issuer reports; mining pool updates; Glassnode; company filings; Federal Reserve data).