Overview
- The token broke $70,000 for the first time since November 2024, with trades near $67,000 before recovering toward the low $70,000s.
- U.S. spot bitcoin ETFs remain net sellers after multi‑billion‑dollar outflows in November through January, with fresh withdrawals reported this week.
- Derivatives stress deepened as funding turned negative, open interest fell, and leveraged long positions saw heavy liquidations, reaching hundreds of millions in a day and more than $2 billion this week.
- Risk-off moves in technology stocks and expectations tied to Kevin Warsh’s Fed nomination have tightened liquidity and pressured speculative assets.
- Traders are watching support in the $65,000–$70,000 zone, with prediction markets assigning high odds to further declines and Stifel flagging a bearish scenario toward $38,000.