Bitcoin Shows Bottoming Signs as Demand Recovers Despite ETF Outflows

Bitcoin is showing early signs of a potential market bottom as onchain demand improves and whale holdings remain elevated. However, macroeconomic pressures, weak spot market activity and uncertainty over US economic policy continue to weigh on BTC. Bitcoin traded at $82,620 on Monday, down 1% over the previous 24 hours. Traders are watching upcoming US inflation data for clues about the market’s next move. Bitcoin has struggled to deliver the strong October rally that some market participants expected.