Overview
- Bitcoin, which dropped as much as 5% Friday after a $14 billion options expiry, fell to about $65,500 for its lowest level since early March.
- Spot Bitcoin ETFs logged roughly $296 million in weekly net outflows, ending a four‑week inflow streak and signaling investors are scaling back exposure.
- U.S. 10‑year Treasury yields are pushing toward 5% and Brent crude climbed near $106 this month, tightening financial conditions that tend to pull money from risk assets.
- On‑chain signals show stress at larger desks and among newer holders as the Coinbase Premium turns deeply negative and about 21,700 BTC from short‑term holders hit exchanges at a loss.
- Some metrics hint at selective buying as large USDT balances left exchanges and miner selling eased, yet analysts warn that loss of $60,000 support could open a path toward the $58,000–$55,000 zone and, if pressure builds, deeper targets.