Overview
- Bitcoin trades in the high-$60,000s after a failed push above $70,000, with recent rebounds viewed as relief rallies driven more by derivatives than spot demand.
- CryptoQuant reports new investor inflows have flipped negative and its Bull Score Index dropped to 10, signaling extremely bearish on‑chain conditions.
- CoinShares says weekly outflows shrank to $187 million while exchange‑traded product volume hit a record $63.1 billion, indicating heavy repositioning rather than wholesale flight.
- Fear gauges hit rare single‑digit readings and Kaiko data show spot volumes down roughly 30% from late 2025, while analysts flagged an estimated $10 billion in realized losses last week.
- Forecasts diverge as Bernstein reiterates a $150,000 year‑end target while others warn of retests toward $60,000, with traders eyeing the U.S. jobs report and potential shutdown risks.