Market Absorption ∞ Area

A prominent black Bitcoin symbol is centrally embedded within a complex, futuristic digital asset infrastructure. Intricate blue circuit board traces and metallic components form a dense network, suggesting a sophisticated blockchain architecture. This visualization evokes the underlying hardware and software mechanisms of a decentralized ledger technology. The composition highlights the computational power required for cryptographic proof-of-work, essential for transaction validation and maintaining network consensus. This intricate design represents a high-performance mining rig or a critical node within the peer-to-peer network, embodying the core principles of digital currency and its secure, distributed nature.

∞Long-Term Holders

∞Realized Flows

Long-Term Bitcoin Holders Distribute: Can ETF Demand Absorb

Long-term Bitcoin holders recently sold 183,000 BTC, initiating a critical market absorption test for new ETF demand.