On-chain data is flashing caution. Metrics show $BTC spot demand cooling, ETF inflows turning negative, and whale accumulation slowing — all signs of fading confidence. Derivatives tell the same story, with funding rates near cycle lows as traders reduce leverage. Adding to the pressure, BTC has slipped below its long-term trend line, a level often tied to market regime shifts. If weakness continues, analysts are watching $70K as near-term support, with stronger demand expected closer to realized price.
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BTC
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