Bitcoin: Holders Drive Rally as New Inflows Drop

Bitcoin existing holders carry the current rally as the realized cap climbs steadily while fresh capital from ETFs, stablecoins and corporate treasuries falls away.

The 2024 and 2025 rallies displayed the same divergence yet operated on far larger inflows; renewed participation from new money would anchor genuine demand behind BTC. With price at $80584.61 testing the lower Bollinger support at $80874.64, the bearish EMA50 at $84188.36 and EMA200 at $82162.33 act as concrete resistance overhead while RSI at 19.99 signals oversold conditions and MACD at -948.67 confirms the death cross, pointing to a likely consolidation before any sustained upside attempt.