Overview
- Bitcoin briefly reclaimed roughly $65,400 early Wednesday on a softer dollar and strength in Asian equities, with analysts split on whether a durable low is forming.
- U.S. spot bitcoin ETFs recorded about $203.8 million in net outflows on Monday, extending a multi‑week redemption streak that drives mechanical selling of BTC.
- Derivatives stress picked up with roughly $295 million in long positions liquidated within hours and futures open interest falling toward $90 billion.
- On-chain signals remain defensive, including a two‑month $33 billion drop in realized capitalization and reports of a prolonged miner negative net position.
- Technicians highlight $60,000–$62,000 as the pivotal band; a sustained break could target the low‑to‑mid $50,000s, while holding the lows would bolster double‑bottom hopes.