Overview
- Crude spiked toward ~$120 overnight before sliding sharply below $100, easing pressure on risk assets and helping bitcoin bounce from lows near $65,000 to roughly $69,000.
- Weekly crypto fund flows cooled to a net $619 million, with heavy early‑week inflows flipping to late‑week outflows; Bitcoin drew $521 million while XRP saw the only meaningful outflows among majors, CoinShares reported.
- Derivatives positioning picked up as open interest rose to about $44.4 billion and volumes jumped nearly 58%, pointing to active re‑positioning during the volatility, according to CoinGlass data.
- Ethereum retreated roughly 8% into the $1,900s after on‑chain trackers flagged co‑founder Jeffrey Wilcke transferring 79,176 ETH (about $157 million) to Kraken, though large wallets were also seen accumulating.
- Analysts say the broader structure still favors caution unless bitcoin can secure sustained daily closes above the $73,000–$75,000 zone, with key support watched in the mid‑$60,000s.