Glassnode: Bitcoin's pullback from recent highs reflects weakening momentum, not a deterioration in the trend.

The flow of funds into US spot Bitcoin ETFs has reversed sharply, showing strong inflows, indicating that institutions are re-accumulating positions. Although ETF trading volume has increased accordingly, the improved profits of holders also bring the risk of short-term profit-taking. Bitcoin has fallen from its recent high of $98,000 to just over $90,000. The 14-day Relative Strength Index (RSI) has fallen but remains above neutral levels, indicating that it is in a consolidation phase rather than a deteriorating trend.