Bitcoin fell 2.9% to $61,305, breaking below $60,000 for the first time since October 2024.Not noise. ETF outflows ended their 13-day streak while funding rates hit -3.2% annualized, showing institutional selling exhaustion amid heavy short positioning that creates squeeze potential.
Bitcoin ETFs recorded first positive inflows ($3.05M) after 13 consecutive days of outflows totaling $4.4 billion
Perpetual funding rates turned negative at -3.2% annualized as $2.6 billion in short positions built up
Jobs data showed 350,000 new payrolls versus 185,000 expected, strengthening dollar and raising Fed rate hike prospects
Network fundamentals remain solid with hashrate at 911 EH/s and low fee environment supporting long-term adoption
Market Snapshot
Market Cap
$1.23T
24h Volume
$75.41B
Dominance
56.0%
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