News
Bitcoin Trading Near $82k Amidst Market Boredom
Bitcoin trades near $82k on Monday, down about 2% from the previous week. Selling pressure has eased, but there is no strong demand from spot Bitcoin ETFs. Capital continues to shift into new hands. Perpetual takers remain net sellers, though the selling has eased and funding paid by longs has moved back within its range. ETF outflows narrowed to about $230M and moved back within their range, while ETF trade volume slipped below its low band. Spot takers continue to sell within their normal range, and momentum sank to the edge of its low band. Options traders continue to pay for protection, with 25-delta skew rising further within its range and implied volatility moving above realized volatility. On-chain activity cooled, with fees and transfer volume down about 10% each within their ranges, while active addresses remained steady. Capital continues to move into newer hands, with the monthly change in realized capital and the hot capital share staying above their high bands, and the ratio of short-term to long-term holder supply edging above its high band. Profitability cooled, with price-taking falling back within its range, supply in profit slipping just below its high band at just over two-thirds, and short-term holder gains shrinking but staying above their high band. Price Momentum decreased by 20.0% from 45.0 to 36.0 over the week, signaling a shift toward selling pressure. Price Momentum declined toward the lower boundary, resting just above its low band, indicating a weakening trend and increased selling pressure.