Overview
- Bitcoin briefly fell below $73,000 to its weakest level since late 2024 before recovering toward the mid-to-high $70,000s, with rebounds stalling near recently established resistance.
- U.S. spot ETFs logged a three‑month redemption streak pulling roughly $5.67 billion, CoinShares tracked another $1.7 billion in weekly outflows, and total ETF assets have slid from about $152 billion to near $108 billion.
- Citi said bitcoin now trades below its estimated average U.S. spot ETF entry price of $81,600 and is nearing its pre‑election floor as ETF inflows fade and futures markets see intermittent long liquidations.
- Derivatives stress has amplified the decline, with data showing more than $2.5 billion in forced long liquidations and options markets tilting defensively, while funding rates turned negative.
- Macro risk repricing tied to Kevin Warsh’s Fed nomination and equity weakness has contrasted with strong precious‑metals gains, as gold hovered around $5,000 and silver jumped sharply; on‑chain data show fearful sentiment and reports of roughly 50,000 BTC sold by large wallets.