Overview
- Bitcoin stayed near $75,000 to $77,000 following Wednesday’s Federal Reserve hold as repeated sell orders around $78,000 to $80,000 blocked stronger moves.
- Futures markets signaled caution with falling open interest, negative funding that pays traders to stay short, and a wave of long-position liquidations.
- Spot Bitcoin ETFs recorded a three-day run of outflows into Wednesday, including $137.77 million that day, suggesting institutions paused new purchases.
- Research from Coinbase Institutional and Glassnode pointed to a possible near-term bottom, while CryptoQuant warned April’s rally leaned on leveraged futures rather than spot buying.
- More than 10,000 BTC shifted to exchanges over the past week and higher oil tied to U.S.–Iran tensions added another headwind for risk-taking.