Sentiment is one of the most important factors for Bitcoin, an asset that does not itself generate yield. Without positive sentiment, prices tend to decline. There are various ways to measure sentiment, but most rely on the wrong metrics, such as the Bitcoin Fear and Greed Index, which is rather a clumsy tool.
We believe there's a better, faster, and more accurate way to measure it: focusing on actual money flow, such as Bitcoin ETF inflows, alongside other technical factors. Still, we use our own sentiment indicator to time the market more accurately.
Nobody rang a bell at the top of the cycle in October 2025 (here); instead, the structure underneath the price action was already revealing that a bear market was about to begin. But this analysis works in reverse, too.
Bitcoin ETF Flows (LHS, accumulated, $bn) vs. Monthly (RHS)
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