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Bitcoin registered a 15% drop in the last week, reaching its lowest level in nine weeks. However, behind the superficial market panic and liquidations that reached US$1.84 million in a single day, the on-chain commands reveal a story of structural strength.
According to the latest analysis from eNor Securities, this movement is not due to weakness in the asset, but rather to a combination of global macroeconomic and geopolitical factors: renewed tensions in the Middle East, stronger-than-expected US employment data suggesting high interest rates for longer, and the outflow of US$4.33 million from Bitcoin ETFs since mid-may.
Despite this scenario of maximum pressure, the technical fundamentals demonstrate that the market is absorbing the impact in an orderly fashion. Long-term investors (Long-Term Holders) maintain their conviction, and there has been no panicked sell-off (structural capitulation), positioning Bitcoin in a neutral value zone and trending towards undervaluation.
An asset class demonstrating institutional maturity
Beyond short-term volatility, the behavior of the digital financial market demonstrates a profound shift. Instead of an uncontrolled collapse, key support levels have defended the price, reflecting that institutional and sophisticated investors view these corrections as strategic opportunities.
“Withstanding a simultaneous impact from global variables, from military tensions to record capital outflows from ETFs, while keeping the network structure intact, is not a sign of a weak asset. It is proof that digital assets are maturing and already have the capacity to absorb financial shocks while maintaining their strong fundamentals”, noted Rodrigo Mendes, CEO of eNor Securities.
“For wealth managers and large investors, these times reaffirm the need for a regulated and secure infrastructure to operate in, allowing them to mitigate risks and take advantage of the optimal entry points offered by the market cycle”, he said.
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