While political figures argue over Bitcoin’s legitimacy, market participants focus on data. One key factor involves inflows into Bitcoin exchange-traded funds. Recent reached about $1.47 billion over two weeks. These inflows helped lift Bitcoin’s price after a period of weak activity. Analysts note that ETF flows do not always convert immediately into spot purchases. Still, consistent inflows can create structural support for the market.
At the same time, on-chain metrics show mixed signals. Only about 57 percent of the Bitcoin supply currently sits in profit. Historically, analysts view the 60 percent level as a key behavioral threshold. When supply in profit moves above that level, broader market confidence often returns.
Until that level changes, rallies could face selling pressure from short-term holders exiting near break-even. Meanwhile, continue debating Bitcoin’s nature across online communities. Some Reddit users describe Bitcoin as a pyramid structure tied to network growth.
Others call it a “greater fool” system driven by speculative demand. With criticism from political figures and support from high-profile advocates, one question remains: after more than 16 years of debate, why does the Ponzi accusation against Bitcoin still persist?