Bitcoin is no longer the speculative playground it once was. What began as a retail-driven movement powered by early adopters and crypto enthusiasts has evolved into a market increasingly shaped by institutional capital, from BTC ETFs absorbing billions in inflows to corporations and hedge funds adding BTC to their balance sheets.
As Daan noted, ETF flow data is a lagging indicator and useful mostly in hindsight. Nonetheless, when large outflows occur and the price refuses to drop further, it could be considered as short-term bullish absorption. Additionally, when heavy inflows fail to lift the price higher, it can signal local tops.
