Bitcoin demand gauge sinks to worst level since December as spot buying weakens
Bitcoin's demand indicator hit its worst level since December, with CryptoQuant's 30-day metric showing negative 147,000 BTC absorption. Spot buying has weakened significantly, with futures-led rallies replacing organic demand. The negative Coinbase Premium signals offshore traders dominate while U.S. spot buyers remain inactive. Without fresh spot demand, Bitcoin risks a pullback from the critical $70,000 level where recent buyers' profits thin.
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Bitcoin ETFs crushed by billions in outflows as Treasuries stifle interest-rate cut hopes
Bitcoin ETFs suffered $1.32 billion in weekly outflows as Treasury yields signal prolonged higher interest rates under new Federal Reserve Chair Kevin Warsh. The 11 U.S.-listed spot Bitcoin ETFs alone saw $1.26 billion exit, while Ethereum funds lost $223 million. Elevated borrowing costs typically dampen risk assets like cryptocurrencies, pushing investors toward traditional alternatives and IPOs.
