Overview
- Bitcoin fell below $78,000 after a fifth rejection near $82,000, where the 200‑day moving average — a key long‑term trend line — capped the rebound, leaving $76,000 to $75,000 as the level bulls need to hold.
- Spot Bitcoin ETFs recorded about $1 billion in net outflows last week, and the Coinbase premium turned negative, which means the US exchange’s price lagged offshore venues and points to weaker American buying.
- Derivatives stress deepened the drop as about $657 million in positions were wiped out, including roughly $584 million from long bets that were forced to sell when prices fell.
- Hotter inflation at 3.8% year over year and a jump in the 10‑year Treasury yield to about 4.58% have pushed investors toward safer income and raised the chance of a Fed rate hike under newly confirmed chair Kevin Warsh.
- On‑chain data shows long‑term holders added roughly 80,000 BTC in a week and exchange reserves stay low, yet analysts highlight ~$70,000 as the main on‑chain support if $75,000 breaks.