Flows are stabilizing Bitcoin, but the macro backdrop is starting to push in the opposite direction.

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	Forwarded this email? Subscribe here for more Bitcoin Has Stabilized But Stocks Are Testing The Setup Flows are stabilizing Bitcoin, but the macro backdrop is starting to push in the opposite direction. Ecoinometrics Mar 23 ∙ Preview   READ IN APP   Over the past few weeks, you’ve probably noticed something that feels different. Bitcoin has been holding up better than equities. Flows have started to turn. And naturally, the idea starts to creep in that maybe this time is different. Maybe Bitcoin is finally starting to move on its own. The problem is that the data doesn’t really support that. Something we discussed in more details last week. When you step back, Bitcoin is still moving inside the same system as the rest of the market. It reacts to the same shifts in liquidity and risk appetite. That hasn’t changed. What has changed is the internal picture. A few weeks ago, the trend was clearly deteriorating. Now it’s not. The demand backdrop has improved enough that Bitcoin is no longer drifting lower by default. It’s stabilizing. And that’s where things get a bit tricky. Because just as Bitcoin’s own setup is improving, the broader market is starting to weaken. Not dramatically yet, but enough to raise the question of whether this recovery is about to run into a headwind. So the question is whether that improvement can hold if the rest of the market starts to roll over. Let’s go through the data. Ecoinometrics delivers professional-grade crypto and macro analysis to help institutional investors and serious traders make data-driven decisions. Our team conducts rigorous quantitative research, developing proprietary metrics and institutional-quality visualizations that cut through the noise to reveal key market dynamics. Each newsletter provides clear, actionable insights backed by data, delivered in a concise format that respects your time - five minutes to absorb, but deep enough to inform your investment strategy. Join over 35,000 professional investors and fund managers: Upgrade to paid Ready? Let’s dig into the data. Bitcoin Has Stabilized But Stocks Are Testing The Setup The Takeaway Bitcoin has moved out of a deterioration phase and is now stabilizing, with price broadly in line with ETF-driven demand. But that stabilization remains fragile... Continue reading this post for free in the Substack app Claim my free post Or upgrade your subscription. Upgrade to paid   Like Comment Restack   © 2026 Ecoinometrics 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe