Bitcoin markets weaken post-Bybit hack, with $2.91B ETF outflows, -$461M Spot CVD, and -$1.48B in Perp CVD. Futures OI declines, leverage unwinds, and profitability drops (NUPL at 0.52). Liquidity is thinning, raising downside risk without renewed demand.

Bitcoin shows mixed signals: weak spot demand ($7.45B volume), cautious derivatives ($46.17B OI, -$169M CVD), and slowing ETF flows. On-chain activity and liquidity inflows are fading, while 86% of supply remains in profit. Without a catalyst, momentum may stall.

Bitcoin markets show diverging signals: weak spot activity, $45B in futures open interest, and cooling retail interest. Liquidity is rising, sell pressure is easing, and institutions remain active. With volatility low, the market is poised for a breakout.

Bitcoin shows weakening momentum as price strength fades and sell-side pressure persists. Futures OI tops $47B but contracts, funding rates drop, and on-chain activity slows. Liquidity remains strong, ETFs rise modestly, but signs of trend exhaustion emerge.