Overview
- Bitcoin is consolidating around $90,000–$91,000 after a brief dip to roughly $89,200–$89,300 and repeated failures to clear $94,000–$95,000.
- U.S. spot Bitcoin ETFs logged several days of redemptions, with single‑day totals near $400–$500 million and roughly $1.1 billion in cumulative outflows this week.
- Derivatives data show elevated open interest near recent highs and persistently positive funding, while pullbacks triggered liquidations totaling roughly $200–$440 million, mostly from longs.
- On‑chain gauges point to lighter distribution pressure, with Glassnode noting a sharp drop in realized profits and CryptoQuant highlighting that fresh capital inflows have largely dried up.
- Analysts are split: JPMorgan cites signs of bottoming, but traders warn that losing $90,000 could expose $86,000–$80,000, with a sustained break above $95,000 needed to regain momentum.