Bitcoin pulls back to $91K – Spot buyers quietly take control
Bitcoin has retreated to the $91,000 level after failing to hold above $95,000, indicating short-term exhaustion. However, broader market participation remains strong. Spot buyers have regained control, with the Spot Taker CVD turning positive and $171.83 million in net outflows from exchanges, signaling organic accumulation. Institutional demand remains steady, with U.S. investors accumulating approximately $53 billion worth of BTC over the past year, largely driven by spot Bitcoin ETFs. Global liquidity conditions also remain supportive, with M2 growth at 11%, below levels typically associated with cycle peaks. However, macro risks, such as U.S.-EU trade tensions, could impact near-term sentiment as cryptocurrencies are treated as risk assets.
ambcrypto01/20 23:31