America’s Bitcoin buying turns negative as BTC drifts closer to the $57,300 liquidation trap
Bitcoin’s correction is worsening as US demand weakens and leverage below $60,000 becomes a bigger risk. BTC traded around $59,800, down 16% on the month, with US trading hours showing about -15% cumulative return over the past month. US spot Bitcoin ETFs saw roughly $6.35 billion in net outflows over 30 days, and Coinbase’s premium to offshore prices stayed negative, signaling soft US buying. With spot demand fading, the market is more vulnerable to forced liquidations. Key downside levels cluster around $57,300, while Deribit shows large open interest at $60,000 and further below at $50,000 and $55,000. Market-order buying has improved from recent lows but remains insufficient to confirm a durable rebound. Long liquidations have become more common, and broader crypto risk appetite is weakening, suggesting rallies may be temporary unless spot demand returns.
