BITCOIN UNDER PRESSURE AS MARKET LIQUIDITY EVAPORATES
Bitcoin’s momentum is fading fast as liquidity thins across all fronts — spot, futures, options, and ETFs. Price remains trapped below the $114,000 resistance, with no bullish breakout in sight.
📉 Glassnode data shows RSI plunged into oversold territory (35.8), while Cumulative Volume Delta flipped sharply negative (from -$107M to -$220M). Spot volume also dropped from $8.4B to $7.5B, signaling weaker participation.
In futures, open interest declined to $44.9B, funding rates fell 33%, and perp CVD sank to -$1.8B. Options tell the same story: put-to-call ratio spiked to 90%+ — even flipping above 100% briefly — indicating fear-driven hedging. Meanwhile, ETF net inflows collapsed 24.9% to $269M.
On-chain activity also reflects the slowdown. Transaction fees, transfer volume, and profitability metrics (NUPL, SOPR, Realized P/L) all declined. While no mass panic is visible, confidence is slipping.
🔻 Broader market unease — from AI stock concentration to weak oil profits at Saudi Aramco — is bleeding into crypto sentiment. The market isn’t collapsing… but it’s definitely cautious.
