The breakdown of the ascending wedge in Bitcoin price chart and the dip below the psychological $70,000 level have shifted the immediate market bias to bearish. With spot BTC ETFs experiencing massive net outflows in recent weeks the institutional “shield” that protected higher price levels is currently under pressure.
Whale Sentiment Divergence: Mega-whales are offloading supply, but mid-tier institutional whales (1k–10k BTC) are aggressively accumulating, creating a potential bottoming structure.
Volatility Warning: With record-high leverage usage and declining open interest, the market is primed for violent price swings; a return to $78,000 is required to invalidate the current bearish trend.
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