Bitcoin dip buyers curb selling but questionable spot, futures volumes highlight weakness
Bitcoin faced renewed selling after another week of heavy spot ETF outflows, following the prior week’s large redemptions. The drop to about $72,500 revived fears of a return to the $60,000–$70,000 range, but spot buying has helped defend the $70,000 area. On-chain and market data show buyers are active, yet not strong enough to reverse the broader downtrend: Coinbase inflows and futures liquidations reflect ongoing selling pressure, while spot CVD suggests dip buyers are absorbing but not dominating. Open interest is concentrated around $73,000–$74,000, indicating traders have added leveraged longs there. Order-book metrics also show a modest bid-side advantage, implying prices below $75,000 are being treated as discounted. Overall, buying interest is creating support, but a stronger rally likely needs fresh catalysts such as ETF inflows, easing geopolitical tensions, lower oil prices, or new strategic Bitcoin reserve headlines.
