Bitcoin drop to $61.4K as bearish regime signals dey intensify
Bitcoin don drop another 3.9% inside 24 hours reach local low near $61.4K, extend the heavy selloff. The move match heavy spot ETF outflows and lower confidence among spot buyers.
The article mention one 32 BTC sale as part of the wider pressure. E still talk about capitulation, especially from short-term holders wey buy during the previous three-month rally, with liquidations wey cascade after demand weak.
On-chain/flow and derivatives indicators don turn more bearish. Analyst Axel Adler Jr talk say the “impulse” metrics don deteriorate: the fast impulse remain near -90 and the slow impulse drop to -59. Him flag say to see regime shift the slow impulse must climb back into positive territory.
Demand metrics also worsen. After March, 30-day net taker volume been positive, but the histogram recently turn negative, meaning relief-rally buyers don finish.
Exchange flows show more selling pressure. Darkfost mention reversal: April weekly outflow average about 2,500 BTC, but the recent weekly average shift to inflow about 2,410 BTC, meaning coins dey move back to exchanges.
Also, Coinbase Premium Index decline, show US-based investors less willing to pay premium for Bitcoin — more evidence demand dey dry up. The combined signals support a bearish, hard-to-recover setup for Bitcoin.
Bearish
Di indicators dem for di article dey form one consistent bearish picture for Bitcoin: (1) price dey break down to new local low (~$61.4K) as spot ETF outflows still heavy; (2) liquidation/capitulation risk don high after demand weak; (3) derivatives “impulse” metrics (fast/slow) still deeply negative, wetin analysts dey talk be say the slow impulse must turn positive before e fit signal regime change; (4) net taker volume don flip from positive to negative, show say the old relief buyers don comot; (5) exchange flows don shift toward inflows, wey normally dey linked to more sell pressure; (6) Coinbase Premium Index fall, point to reduced U.S. spot demand.
Historically, when plenty of these signals align—ETF outflows, negative taker demand, negative impulse/regime metrics, and exchange inflows—markets usually see continued downside or choppy “sell rallies” for short term. Long term, stabilization likely need demand to re-accelerate (positive taker histogram/impulse recovery) and exchange flows must stop trending toward inflows. Till then, traders suppose expect higher volatility and lower confidence in rebound attempts for Bitcoin.