Forget Bitcoin ETFs, Asia-us Liquuidity Fight will decide BTC’s Lot

After increased volatility, Bitcoin acts above $ 110,800. But analysts warn that the next step of the active will be less dependent on ETF streams and more of a tug of war between Asian and American liquidity.

Data suggests that regional flows play a much greater role than ETF newspaper heads in shaping Bitcoin’s short-term process.

Bitcoin’s real catalyst

According to the latest report shared This pattern makes it clear by cryptoquant, on-chain and exchange data. Asia often states the first spark with aggressive trading activity, while the United States decides whether that spark inflamed in an uninterrupted rally.

Coinbase-Netflows serve as a reliable proxy for institutional appetite, because consistent outsource on long-term accumulation by entities in the US indicated.

Further validation of this is the Coinbase Premium Index (CPI), which measures the price increases between the USD markets of Coinbase and the USDT pairs of Binance. A positive CPI has traditionally been associated with sustainable rallies, because it indicates that American demand actively supports higher prices.

On the other hand, Binance Netflows reveals the influence of Asia, which is often bound by a shorter age and the positioning of the retail trade. Heavy inflow usually would be busy selling pressure, while acting actively suggesting dip-buying.

The Korea Premium Index (KPI), generally known as the “Kimchi Premium” that follows the Korean market sentiment, currently points to moderate premiums that indicate a healthy demand, but measurements above 5% often warn of speculative excess. Together these indicators do not reveal any dominant director but a constant power relations.

When the American institutional demand and Asian retail enthusiasm – such as reflected in both CPI and KPI who at the same time flash green – Bitcoin rallies tend to accelerate with the global momentum. But when leadership between the two regions moves, experienced markets increased volatility and sharp intraday fluctuations.

This evolving structure disputes the outdated idea that “whales move the market”, which instead show that regional liquidity flows determine price action.

Looking ahead to Q4, the real catalyst for Bitcoin’s next leg higher will be a decisive positive shift in the Coinbase Premium, in combination with the continuous power of Asia to absorb the offer. This synchronization, believes cryptoquant, could transform sparks into a persistent rally.

Bitcoin has not yet affected euphoria

Bitcoin’s market sentiment has entered The “Faith and Optimism” phase, since the net non-realized profit/loss (NUPL) indicator is currently 0.52, which signals a mid-bull cycle. Earlier, this 0.5-0.6 reach activated accelerated price movements, while peaks took place in 2013, 2017 and 2021 when NUPL struck 0.7-0.8.

Experts say that although taking a profit in the short term could cause corrections, the Outlook points to a further upward momentum in the medium term. If the pattern repeats, Bitcoin could rise to the range of $ 120,000 $ 150,000. It is important that it is not actively introduced the ‘euphoria’ zone.