Overview
- Bitcoin briefly fell to roughly $72,900, its lowest level since November 2024, before stabilizing in the $75,000–$78,000 range with $73,000 watched as key support.
- Spot bitcoin ETFs recorded three straight months of redemptions totaling about $5.67 billion, cutting total ETF assets to roughly $108 billion from a $152 billion peak.
- More than $2.5 billion in forced liquidations accelerated the decline, with negative funding and a backwardated options curve signaling defensive positioning rather than dip-buying.
- Blockchain data pointed to roughly 50,000 BTC sold by larger wallets over two weeks as smaller holders bought the dip, while social metrics showed fear at elevated levels.
- Risk assets weakened after Kevin Warsh’s Fed nomination prompted a hawkish repricing, as tech stocks slid and gold and silver rallied, reinforcing a rotation into perceived safe havens.