March changed the tone for Bitcoin. After months of steady outflows, capital finally started coming back through the ETFs. That tells us the initial selling phase of the bear market is likely behind us and that buyers are stepping in again around current price levels. But that improvement didn’t last long enough to stand on its own. Right as flows were stabilizing, the macro backdrop turned against risk assets. Oil moved higher, inflation concerns came back, and the market quickly shifted away from pricing rate cuts. Financial conditions tightened again, and that pressure is already showing up across equities. Bitcoin is not insulated from that. So the situation coming into April is not a clean recovery. It’s a fragile stabilization sitting on top of a deteriorating macro environment. The question now is whether demand can rebuild despite those headwinds, or whether this early recovery attempt fades before it really gets going. Let’s look at 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: Ready? Let’s dig into the data. Bitcoin Inflows Are Losing MomentumThe TakeawayMarch brought Bitcoin back into positive territory for ETF flows, signalling that the main selling phase of the bear has likely run its course... Continue reading this post for free in the Substack app
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