Analysts suggest Bitcoin is in a mid-cycle reset despite recent bear market positioning. On-chain data reveals a shift from panic selling to accumulation as ETFs experience a sharp selloff. Flows are stabilizing, with the average ETF cost basis acting as a support level. BlackRock’s recent BTC and ETH movements signal liquidity demand, not selling pressure. The Coinbase Premium Index reflects cooled demand from US institutions. Bitcoin price remains stable despite increased exchange netflows, indicating redistribution to stronger hands. The market may consolidate before attempting a move towards $95,000 or even $100,000 if ETF flows turn positive again, pointing towards a mid-cycle reset rather than a bear market breakdown.

Read more at Yahoo Finance: Bitcoin Looks Locked in a Mid-Cycle Reset as On-Chain Data Stabilizes