Overview
- Bitcoin traded near $67,000 on Saturday, testing a key floor around $66,800 after a month in a $66,000 to $70,000 range.
- On-chain data showed about 66,300 BTC left exchanges over 30 days, with roughly 92% absorbed through over-the-counter desks used by large buyers.
- CryptoQuant reported total demand contracting by about 63,000 BTC per month as whales and short-term holders continued to distribute coins.
- Spot trading cooled while leverage stayed elevated, with funding rates mostly negative, which points to a higher risk of forced long liquidations.
- Spot Bitcoin ETFs swung to $174 million in net outflows on Wednesday after roughly $1.1 billion of March inflows, and technicians warn a break below $66,000 could open a path toward $60,000.