Overview
- Bitcoin fell through the $66,000 mark after a brief rebound faded, retreating from last week’s $60,000 low and extending a multiweek downtrend.
- Liquidations continue to punctuate the selloff, with about $2.7 billion wiped out over the weekend and roughly $394 million more in the past 24 hours, mostly from longs.
- Spot Bitcoin ETFs have flipped into a structural supply source with an estimated $6.2 billion in cumulative net outflows since November, though they recorded about $167 million in net inflows on Tuesday.
- Macro pressures intensified after Kevin Warsh’s nomination for Fed chair and a stronger-than-forecast U.S. jobs report, which cut near-term rate‑cut odds and cooled demand for high‑beta assets.
- Market metrics show fragile liquidity and fading leverage, including bitcoin futures open interest down roughly 51% from its 2025 peak, while whales and recent buyers realize sizable losses and major altcoins extend declines.