PANews reported on April 21 that, according to BIT analysis, new sources of Bitcoin demand are gradually emerging. Strategy's (formerly MicroStrategy) continued buying has provided relatively stable buying support for the market, and clearer signs of allocation-oriented funds flowing in are beginning to appear. Specifically, Coinbase Premium continues to rebound, with the spot Bitcoin ETF seeing a net inflow of approximately $664 million in a single day, the highest level since mid-January.

These signals all point in one direction: the demand structure is recovering. Corporate financial buying, ETF inflows, and US spot demand are working together to solidify support at price lows, and market participation is also rebounding, a significant departure from the environment of the previous correction phase. Combined with yesterday's analysis of stablecoin fund inflows, liquidity support is also gradually strengthening. These two lines of thought corroborate each other, suggesting the market may be gradually building a new trading range. This doesn't mean the price will rise linearly, but if the above trends continue, the probability of prices moving towards the upper limit of the range is increasing.