币界网报道:Despite the recent surge in Bitcoin ETF inflows, BTC faces a potential demand drought as on-chain data reveals slowing accumulation by long-term holders. Analysts note that while ETF purchases have offset selling pressure from Grayscale's outflows, the lack of fresh demand from traditional investors could lead to price stagnation. Market indicators show declining network activity and reduced whale accumulation, suggesting weakening organic demand. Experts warn that without sustained buying pressure from either retail or institutional players, Bitcoin may struggle to maintain its current price levels despite the ETF-driven liquidity boost.