The crypto market is cooling off after a rise – investors are becoming more cautious (from euphoria to overvaluation).

➠ Selling pressure is increasing, as indicated by the Spot CVD and Perpetual CVD indicators.

➠ Institutional demand is weakening – inflows into crypto ETFs have decreased by 24.9%.

➠ Demand for hedging is rising – the 25 Delta Skew indicator has increased to 5.51%, surpassing the upper limit and indicating a heightened need for protection against Bitcoin's decline.

➠ Activity on the BTC network is declining – the volume of transfers and fees has decreased, despite the growth in active addresses.

➠ The number of “profitable” BTC has dropped to 93.6%.

➠ The potential for a rebound remains – signs of seller exhaustion and Bitcoin being oversold create conditions for a recovery in the crypto market when positive catalysts emerge.

➠ BTC is in an oversold phase – RSI has plummeted to 35.8.