Bitcoin ETF inflows keep climbing but on-chain activity looks oddly quiet. What's going on?

Rohan Mehta · 1 likes

this is exactly what 'financialization' of an asset looks like, same thing happened to gold decades ago once futures/ETFs took over price discovery

Tiny Mango · 0 likes

on chain activity being flat isnt necessarily bad, lightning network usage isnt reflected in base layer tx counts at all

Aarav Sharma · 0 likes

true but lightning volume isnt exactly massive either if we're being honest

Noah Campbell · 0 likes

institutions buying and holding (not moving coins) is actualy bullish for scarcity even if it looks boring on-chain

Rapid Panda · 0 likes

im more worried about custody concentration in a handful of ETF providers tbh, thats a different kind of risk than price volatility

Liam Eriksson · 0 likes

every cycle people say 'this time its different' about on chain metrics not mattering, and every cycle on chain metrics eventually catch up to price reality

Rapid Orbit · 1 likes

fair point but the market structure genuinely has changed with regulated ETF access, not sure the old playbook fully applies

Noah Johansson · 0 likes

derivatives volume dwarfing spot has been the story for years now, nothing new under the sun here

Mango Atlas · 0 likes

i just dca and ignore the on chain dashboards, overanalyzing this stuff hasnt helped my returns historically