Above 84000 holds firm despite ETF outflows and falling oil

Large holders continue to distribute Bitcoin through net exchange inflows. This reveals weak underlying demand behind the current price stability near 84000. Oil fell after Trump declared an energy ceasefire between Russia and Ukraine. Moscow has not endorsed the move and strikes persist. That missing confirmation is the most important development today. It implies the energy relief brings no meaningful tailwind for Bitcoin or risk assets in general.

Investors ignore the contradiction of tightening macro conditions from higher yields and a stronger dollar. Complacency dominates despite these headwinds. The network maintains stability without adding any new momentum or demand signal. One hard question admits no clean answer. Will persistent distribution finally overwhelm support levels if the ceasefire unravels and real rates push even higher?