Bitcoin remains under pressure near $68,000 even as panic ebbs
Bitcoin struggles near $68,000 as implied volatility drops, signaling reduced panic but weak demand despite potential macroeconomic tailwinds.Summary
Bitcoin is currently trading under pressure near $68,000, failing to gain upward momentum despite a significant drop in its 30-day implied volatility, which suggests that investor panic following the early-month crash near $60,000 has subsided. Analysts note that while volatility has receded and deleveraging is slowing, derivatives markets indicate stabilization rather than aggressive renewed buying, as perpetual funding rates remain only slightly positive. Furthermore, institutional appetite remains weak, evidenced by continued net outflows from U.S.-listed spot Bitcoin ETFs this month. However, macroeconomic factors offer potential hope, as slowing U.S. inflation and a resulting drop in the 10-year Treasury real yield could provide a tailwind for risk assets like Bitcoin.
(Source：CoinDesk)