Bitcoin Loses Momentum as Futures Traders and ETF Flows Turn Negative

Glassnode’s latest report shows bitcoin gave back gains from its recent breakout. The price slipped below 81,000 dollars on Thursday and finished the week roughly 3% lower, trading under 83,000 dollars on Monday.

Perpetual futures traders flipped to net sellers, pushing funding rates to the low end of their historical range, while open interest stayed elevated. At the same time, spot bitcoin ETFs saw a weekly net outflow of about 700 million dollars.

On-chain metrics paint a more constructive picture. Transfer volumes remain above their long-term upper bound and both realized capitalization growth and the share of hot money are still elevated, pointing to fresh capital entering the market.

Demand for downside protection also rose sharply in the options market, with the 25-delta skew more than doubling.

Based on information from cryptonews.net