NYDIG: Bitcoin’s demand dynamics have shifted, but the long-term outlook remains stable

Bitcoin’s demand engine has reversed, contributing to a price decline as ETF inflows and DAT demand previously pushed it to record highs.

Recent liquidations led to reduced ETF inflows and declining stablecoin supply, reflecting liquidity withdrawal. Bitcoin’s dominance has dipped from over 60% to around 58%.

Despite the correction, Cipolaro remains optimistic about Bitcoin’s long-term institutional interest, noting that the DAT sector shows resilience.