New money disappears, Bitcoin buying momentum collapses, and demand plummets?!

The "new money" in the hands of new market investors has indeed decreased. The $BTC inventory held by short-term holders has decreased by approximately 800,000 coins, leaving only around 4.500 million coins. This indicates that the latest funds entering the market have either taken profits or "survived the deadline" and been classified as long-term holders.

@cryptoquant_com's "Demand Momentum" converts the buying and selling pressure of various groups into net flow. The overall market has seen a net outflow equivalent to 2.00 million Bitcoin's worth of "buying energy" in the last 30 days. ETF flows have also cooled down, with net inflows into spot $BTC ETFs shrinking by more than 60.00% compared to the April peak, and whale accumulation has also been halved.