Analysts: ETF inflows provide buying support for Bitcoin, recent sell-offs mainly come from short-term holders.

On November 26, The Block reported that BRN's research director Timothy Misir stated that the influx of funds into ETFs provided the first meaningful buying support over the past few days, helping Bitcoin maintain within the fragile sideways accumulation range of $84,000 to $90,000. “The influx of funds has begun to play a supportive role, but it cannot be called decisive yet,” Misir said. He pointed out that on-chain pressure remains relatively high, with about one-third of the Bitcoin supply still in a loss state. “Long-term holders and institutions are still selectively increasing their positions, while recent dumps mainly come from short-term holders.” In addition, Misir also mentioned that macro signals remain complex—including the U.S. Producer Price Index (PPI) meeting expectations—which leaves the Fed's policy path unclear. “The inflation data has neither forced the Fed to accelerate rate cuts nor demanded it to maintain a tough stance. The market must price in the possibilities of two directions this week,” Misir said.