Bitcoin (BTC) underperforms risk assets as record 9th day of ETF outflows signal waning demand: Crypto Daily
Bitcoin is holding near $73,500, about 10% below its monthly peak, and the pause appears driven more by a lack of new buyers than heavy selling. Broader risk assets improved on hopes of easing U.S.-Iran tensions and lower oil pressure, but bitcoin’s weakness looks crypto-specific. On-chain data shows long-term holder supply at a record 15.8 million BTC, though much of that may reflect coins sitting idle rather than strong conviction. Short-term holder supply has dropped sharply since December as coins aged into long-term status. Spot bitcoin ETF demand has also cooled, with recent outflows and weak inflows suggesting insufficient support to push price above roughly $78,000. Traders currently see a high chance bitcoin finishes the month in the $72,000–$76,000 range.
