Bitcoin’s price has declined for three consecutive days, falling below $66,000. The retreat follows a failed attempt to break above $70,000, with on-chain data indicating spot-led selling on Binance and muted interest from U.S. investors. Key metrics show persistent net selling pressure and a negative new money flow of roughly $2.8 billion over 30 days.
The price of Bitcoin retreated for a third straight day, slipping below $66,000. This decline followed a failed push above the $70,000 level amid weak buyer interest.
On-chain data suggests the pullback is possibly driven by spot-led selling on the exchange Binance. A lack of a Coinbase premium during U.S. market hours signals muted participation from American investors.
The Coinbase premium index, which remained negative this week, reflects limited engagement from U.S. investors. Meanwhile, Bitcoin’s cumulative volume delta has extended to negative $5.7 billion on Binance.
A steady series of lower highs in the CVD indicates continued market selling pressure rather than accumulation. The bid-ask ratio also remained negative, showing sell orders consistently outweighed bids during recovery attempts.
Aggregated open interest has trended downward to $17.6 billion from $20 billion. This suggests leverage is being unwound as longs close positions instead of building fresh exposure.
CryptoQuant data further reinforces the lack of spot demand below $70,000. The 30-day cumulative new money flow has turned negative, near negative $2.8 billion.
Recent daily readings remain subdued around negative $239 million. Unlike prior uptrends, current price drops are failing to generate meaningful capital inflows.
The “young supply” share tracking recently moved coins has cooled to near 13%. This reflects reduced speculative participation from traders in the current market.
